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18 May 2023

Stephenson Harwood advises on award-winning deal

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Law firm Stephenson Harwood LLP recently advised on SHUAA Capital's acquisition of Allianz Middle East Ship Management, which won 'Offshore Deal of the Year – East' at Marine Money Deal of the Year Awards 2022.

The Stephenson Harwood team advised the National Bank of Fujairah and Arab Petroleum Investments Corporation (APICORP) on its US$160 million leveraged buyout (LBO) financing facility provided to SHUAA Capital for the acquisition of Allianz Marine and Logistics Services Holding Ltd. Following the transaction, SHUAA now manages 152 offshore supply vessels, the largest portfolio in the region, and the fourth largest offshore support vessels (OSV) fleet in the world. Stephenson Harwood had previously advised National Bank of Fujairah on the financing facility provided to SHUAA Capital for its successful acquisition of Stanford Marine LLC, which involved over 35 offshore vessels.

"It is pleasing to receive recognition from Marine Money for this transaction – one of the largest, recent maritime offshore deals within the Middle East, and one of the biggest in the offshore sector globally," said Nijoe Joseph, partner, Stephenson Harwood. "Our long-standing experience enabled us to provide market-leading expertise on this facility, which is one of the largest secured overnight funding rate based facilities of its size for an LBO transaction in the region."

The Stephenson Harwood team was led by Dubai-based partner Nijoe Joseph, who was supported by associate Chinar Zaidi and paralegal Shwini Dsouza. Singapore-based partner Jason Yang provided additional support on the Singapore law aspects of the matter.

Marine Money's annual 'Deals of the Year Awards' recognise and celebrate shipowners, bankers, financial advisors and legal teams who work together on some of the most complex and innovative transactions in the global maritime market. Winners are evaluated on value creation for stakeholders, strategic focus, creativity, overcoming execution challenges, and innovation.

For further information on this award-winning matter, click here.

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