20 December 2012
The Singapore office of Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised Nellan ApS (“Nellan”) on the acquisition of a Singapore-incorporated subsidiary of Nordic Tankers A/S earlier this year.
Nellan is a Danish-incorporated company controlled by private equity firm Triton. The acquisition is part of Triton’s purchase of Nordic Tankers’ entire chemical tanker business, which comprises a fleet of nine owned vessels, six chartered vessels and approximately 70 vessels under commercial and pool management, together with the full contract portfolio and approximately 140 employees, for a purchase price of US$30,000,000.
The WFW Singapore team advising Nellan was led by partner Peter Chean, assisted by associate Meishuang Tay.
Partner Peter Chean at WFW Singapore said: “We are happy to be able to assist in this significant acquisition taking place despite a difficult year for the industry.”