WFW is delighted to announce that a deal the firm advised on has been named Deal of The Year at the Lloyd’s List Global Awards 2017. The merger of Hapag-Lloyd and United Arab Shipping Company (“UASC”) saw the two companies unite to become one of the five largest container shipping lines in the world, with 237 vessels and a combined turnover of approximately US$12bn. This is the second major industry award the transaction has won, following its Marine Money accolade earlier in 2017, reinforcing the firm’s reputation as a leading legal advisor in the global maritime space.
For their involvement in the merger, WFW advised a group of 27 international and local banks acting as financiers under a highly complex matrix of facilities, involving bilateral and syndicated, secured and unsecured, debt financing, Islamic financing and leasing facilities. Showcasing WFW’s global excellence, the transaction was handled by a dedicated international team of over 20 lawyers across the firm’s offices in Dubai, Hamburg, London, New York and Singapore. The transaction was led by Dubai Partner Andrew Baird and supported by Partners Neale Downes in Dubai, Maren Brandes in Hamburg, Kavita Shah in London, Leo Chang in New York and Mei Lin Goh and Mehraab Nazir in Singapore.
This year hosted by the BBC’s Jeremy Vine, the annual awards recognise industry bodies across 15 key categories. In addition to WFW being shortlisted for the iLaw Maritime Law award, a number of the firm’s clients were acknowledged throughout the ceremony, including long-time client PAO Sovcomflot who took home the accolade for ClassNK Tanker Operator of the Year.