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Cido Tanker-Diamond S Shipping tankers sale

US$1,000.00 m

Entry date - Monday, 19 September 2011
Jurisdiction - Hong Kong
Practice - M&A
Cido Tanker-Diamond S Shipping tankers sale

Firm Jones Day Client Diamond S Shipping Lead Lawyers Robert Profusek Role US counsel to buyer	Firm Mayer Brown JSM Client Cido Tanker Lead Lawyers Mark Uhrynuk Role HK counsel to seller	Firm Sullivan & Cromwell Client Investors Lead Lawyers Alexandra Korry, Chun Wei Role International counsel to investors

Firm
Jones Day
Client
Diamond S Shipping
Lead Lawyers
Robert Profusek
Role
US counsel to buyer

Firm
Mayer Brown JSM
Client
Cido Tanker
Lead Lawyers
Mark Uhrynuk
Role
HK counsel to seller

Firm
Sullivan & Cromwell
Client
Investors
Lead Lawyers
Alexandra Korry, Chun Wei
Role
International counsel to investors

DEAL SUMMARY

· $1 billion transaction entailed the sale of 30 product tankers by Cido Tanker to Diamond S Shipping, a deal which quadruples the size of the acquirer’s fleet

· The sale has been structured as shares in various vessel owning companies

· Required high level of correspondence between parties involved

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