• Home
  • News
  • Stephenson Harwood advises on US$155 million fleet facility as part of Epic Gas and Lauritzen Kosan combination

23 Mar 2021

Stephenson Harwood advises on US$155 million fleet facility as part of Epic Gas and Lauritzen Kosan combination

Linkedin

Law firm Stephenson Harwood (Singapore) Alliance has advised SEB, and a syndicate comprising five banks and financial institutions, on a US$155 million loan facility to part-finance Epic Gas Ltd's acquisition of Lauritzen Kosan's fleet of 17 owned-vessels.

The loan facility was a key component of a wider corporate transaction between Epic Gas and Lauritzen Kosan, which will result in the renaming of Epic Gas to BW Epic Kosan. A condition precedent to the financing was the re-domiciliation of Epic Gas Ltd. from the British Virgin Islands (BVI) to Singapore, on which the team also advised the banks.

The combination creates one of the world’s largest fleets providing last mile delivery of liquefied petroleum gas and other speciality gases and petrochemicals. As part of the deal, Lauritzen Kosan contributed 34 gas carriers to Epic Gas’s fleet of 43 pressurised gas vessels, in addition to certain other assets, in exchange for new shares in Epic Gas equivalent to a 26% stake. The financing of Lauritzen Kosan's fleet included vessels flagged in Singapore, Denmark and the Isle of Man.

The Stephenson Harwood team comprised partner Iain Young, senior associate Pedram Norton and associate Thomas Böhringer. Singapore law advice was provided by partner Colin Jarraw and associate Zara Ann Loh.

Partner Jason Yang advised Epic Gas in relation to the Singapore law aspects of the company's re-domiciliation from the BVI to Singapore.

Linkedin

KEY CONTACT

Iain Young

Iain Young
Partner

T:  +65 6226 1600 M:  Email Iain | Vcard Office:  Singapore

Thomas Böhringer

Thomas Böhringer
Associate

T:  +65 6622 9566 M:  +65 9489 2879 Email Thomas | Vcard Office:  Singapore

Pedram Norton

Pedram Norton
Senior associate

T:  +65 6622 9651 M:  Email Pedram | Vcard Office:  Singapore

MEDIA CONTACT

Rose Russell
Communications and PR executive

T: +44 20 7809 2961 
Email Rose

  • Related Services
  • Related Locations