Legal DealFolio - Singamas Acquisition of Euro Offshore

Ashurst has advised HK-listed Singamas on the acquisition of Euro Offshore for a cash consideration of HK$767 million and a subsequent re-organisation of the enlarged Modex Group. After the completion of transaction, Singamas holds a 26% stake in a group combining the Modex Group and Euro Offshore, and the other investors in the Modex Group are Container Investment Fund I LLC, an investment vehicle funded by affilates of DVB Bank SE, Global Energy & Transport LLC, Montesol AS and Petopa Holding Limited. Singamas is one of the world's leading container manufacturers and logistics service providers. The principal activities of Singamas include manufacturing of dry freight containers, collapsible flatrack containers, open top containers, refrigerated containers, U.S. domestic containers, tank containers and other specialised containers; provision of logistics services, including operating container depots and container logistics. The Modex Group is principally engaged in the manufacturing, trading and leasing of offshore containers. Euro Offshore, a member of the Modex Group, is one of the world's largest providers of DNV 2.7-1 offshore containers and modules to the oil and gas industry. The Ashurst team was led by Hong Kong corporate partner Jonathan Hsui, supported by senior associate Chin Yeoh and associate Derek Leung.

Deal Date:	20-02-2014	Practice Area:	Corporate and M&A
Deal Title:	Singamas Acquisition of Euro Offshore	Industry:	Industrial Transportation
Description:	Ashurst has advised HK-listed Singamas on the acquisition of Euro Offshore for a cash consideration of HK$767 million and a subsequent re-organisation of the enlarged Modex Group. After the completion of transaction, Singamas holds a 26% stake in a group combining the Modex Group and Euro Offshore, and the other investors in the Modex Group are Container Investment Fund I LLC, an investment vehicle funded by affilates of DVB Bank SE, Global Energy & Transport LLC, Montesol AS and Petopa Holding Limited. Singamas is one of the world's leading container manufacturers and logistics service providers. The principal activities of Singamas include manufacturing of dry freight containers, collapsible flatrack containers, open top containers, refrigerated containers, U.S. domestic containers, tank containers and other specialised containers; provision of logistics services, including operating container depots and container logistics. The Modex Group is principally engaged in the manufacturing, trading and leasing of offshore containers. Euro Offshore, a member of the Modex Group, is one of the world's largest providers of DNV 2.7-1 offshore containers and modules to the oil and gas industry. The Ashurst team was led by Hong Kong corporate partner Jonathan Hsui, supported by senior associate Chin Yeoh and associate Derek Leung.
Financial Center:	Hong Kong	Value:	100.01-500.00
Advised Party:	Acquiror	Law Firm	Ashurst
Target Company Jurisdiction:	Norway	Acquiror Jurisdiction:	Hong Kong
Classification:	Strategic Buyer Acquisitions Private Company	Lawyer	Jonathan Hsui

Practice Areas -

Corporate and M&A Law Firms and Lawyers

Practice Areas - Corporate and M&A Law Firms and Lawyers