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26 Jan 2023

Stephenson Harwood (Singapore) Alliance advises Seapeak on US$700 million acquisition


Stephenson Harwood (Singapore) Alliance has advised Seapeak LLC (Seapeak) on a US$700 million enterprise value all-cash acquisition of Evergas from Jaccar Holdings (Jaccar).

Stephenson Harwood is also advising on certain post-closing reorganisation matters.

Following the acquisition, Evergas – which is one of the world’s leading seaborne transporters of petrochemical gases and natural gas liquids – will rebrand and operate as a Seapeak subsidiary. It owns and operates two VLECs and eight multigas/LNG carriers, and controls six LPG carriers.

The Stephenson Harwood (Singapore) Alliance team was led by ship finance partner Jason Yang, who was supported by associate Angeline Yap. They acted as Seapeak's Singapore counsel and provided advice and closing support on: the purchase of shares in the various Evergas Singapore-incorporated target companies, and the units in Greenship Gas Trust; the security in connection with Evergas' outgoing financing arrangements; and on the appointment and composition of the boards in line with statutory and commercial requirements.

Further support was provided by a cross-practice and multi-jurisdictional team. Hong Kong-based partner Elton Chan provided English law advice in relation to the review of the leasing finance documentation and the relevant due diligence. London-based partners Dora Mace-Kokota and Ben Mercer and of counsel Melanie Mapstone advised on certain English law aspects of the transaction and acted as coordinator. Paris-based ship finance partner Alain Gautron, corporate partner Clotilde Billat and tax partner Olivier Couraud provided French law advice.



Jason Yang

Jason Yang
Partner at Virtus Law

T:  +65 6835 8673 M:  +65 9852 1277 Email Jason | Vcard Office:  Singapore

Angeline Yap

Angeline Yap
Senior associate at Virtus Law

T:  +65 6602 6609 M:  +65 8569 1780 Email Angeline | Vcard Office:  Singapore


Rose Charteris

Senior communications & PR executive

T: +44 20 7809 2961 
Email Rose