TUESDAY, 18 MAY 2021

 

CONNECT

Facebook Linked In Twitter
GAP Vassilopoulos
GloriaJeans_266x90px
IMH LTD

President Anastasiades Presents National Recovery Plan For The Post-COVID Era

Ioannou: The Serious Manner In Which Citizens Address Vaccinations Fills Us With Optimism

IMH LTD

PROFESSIONAL SERVICES

brought to you by PWC

AXIA Capital Markets Advices United Overseas Group In United Arab Chemical Carriers’ Acquisition

AXIA Capital Markets Advices United Overseas Group In United Arab Chemical Carriers’ Acquisition

United Arab Chemical Carriers Limited (“UACC”), the Dubai-headquartered international shipping company, announced on January 7, 2021 that it entered into a definitive merger agreement to be acquired by United Overseas Group (“UOG”). AXIA Ventures Group, though its subsidiary AXIA Capital Markets (“AXIA”) acted as Financial Advisor to UOG, a company controlled by Peter Georgiopoulos and Leonidas Vrondissis.

 

The transaction is structured as a reverse triangular merger, which will be the first such merger under the Companies Law of the Dubai International Financial Center (“DIFC”). A wholly-owned subsidiary of UOG will merge with and into UACC, which will continue as the survivor company. Entrust Global’s Blue Ocean Fund will provide financing to UOG for the transaction. The transaction is conditioned on, among other things, receipt of shareholder and regulatory approval and is expected to close in the first quarter of 2021.

 

UOG is a ship-owning and investment company, managed from Athens Greece, controlled by Peter Georgiopoulos and Leonidas Vrondissis. Georgiopoulos and Vrondissis are veterans in the shipping industry, having completed multiple transactions with a combined value of over $20.0 billion in both public market and privately negotiated transactions and having held multiple executive positions in NYSE listed companies.

 

UACC, headquartered in Dubai, was established in 2007 in the DIFC as a shipping business engaged in the international transportation of refined products and chemicals. It currently owns and operates 20 vessels comprising nine IMO2/3 chemical tankers, two LR1 and nine MR tankers. Additionally, it operates an additional two vessels on bareboat charter.

 

Alexandros Argyros, Managing Director and Head of the Investment Banking Department of AXIA Ventures Group stated: We are truly excited and honored to once again be entrusted by such a seasoned and well respected team in the shipping space in this very innovative transaction. The complex structure, along with the cross border element made this a very unique situation in an industry that is at the very core of our franchise”. 

 

About AXIA Capital Markets LLC & AXIA Ventures Group Ltd

AXIA Ventures Group Ltd (“AXIA”), a member of AXIA Financial Group (“AFG”), is a leading regional privately-owned investment banking group providing financial advisory and capital market-related services to corporates, governments and institutional clients. AXIA is headquartered in Nicosia, Cyprus, regulated by the Cyprus Securities and Exchange Commission (License No: 086/07) and fully licensed to provide financial advisory services in many financial markets around the world. AXIA also operates in the US under AXIA Capital Markets LLC (“ACM”), a wholly owned registered broker-dealer and member of FINRA. For more information on ACM and its services, you can visit the ACM website at www.axiacm.com.

 

Contact for AXIA Capital Markets LLC

Contact for AXIA Ventures Group Ltd

Dimitrios Athanasopoulos

Vaia Dotsia

President

Associate

AXIA Capital Markets LLC

AXIA Ventures Group Ltd

New York, USA

Athens, Greece

Tel: +1 212 792 0254

Tel: +30 210 741 4430

[email protected]   

[email protected]

MORE ON PROFESSIONAL SERVICES

Elias Neocleous & Co LLC: Partners For Growth!

Elias Neocleous & Co LLC has advised Mediterranean Hospitality Venture Limited (MHV) ...

CITR: The Italian Offensive Against Bad Loans

Business shutdowns, deferrals, job losses, credit default, and many other similar ...

Pyrgou Vakis LLC Ranks Once Again In Legal 500

Pyrgou Vakis LLC has ranked for fourth consecutive year as a top tier firm in the Legal ...

FROM AROUND GOLDNEWS

   

President Anastasiades Presents National Recovery Plan For The Post-COVID Era

President of Cyprus Nicos Anastasiades said that today marks a historic day, as the foundations for the post- COVID era in Cyprus are being laid.  The ...
   

Ioannou: The Serious Manner In Which Citizens Address Vaccinations Fills Us With Optimism

Safe Pass is not necessary for outdoor venues of restaurants, coffee shops, theatres, cinemas etc as of today, Monday, May 17 while the evening curfew ...
   

EU Directive Introducing Class Actions And US Chamber Institute For Legal Reform Recommendations.

The concept of class actions is widely known in the USA and is essentially a claim that consist of a group of claimants that have suffered the same damage or ...
   

Cyprus Casinos “C2” Reopens

Cyprus Casinos “C2”, the first and only authorised casinos in the Republic of Cyprus, announces its reopening from today, 17th May. C2 is ready to ...
   

New Virtual Forum On Entrepreneurship For University Students

On Wednesday, May 26 and Thursday, May 27, CyprusInno will be hosting its virtual forum for university students, Opportunity from Crisis: Launching Your ...
   

CCLEI: Signs Of Recovery Of The Cypriot Economy Following The Strong Effects Of The Pandemic

The Cyprus Composite Leading Economic Index (CCLEI) recorded a year-over-year increase of 3.9% in April 2021 reaching a level of 101.5, after the ...
   

GOLD New Issue: The Limassol Issue

The Greek philosopher Socrates, memorably noted: “By far the greatest and most admirable form of wisdom is that needed to plan and beautify cities and ...
   

Draft Law Of Cyprus Loan Guarantee Scheme Sent To The European Commission For Examination

The Finance Ministry in Cyprus is awaiting word from the European Commission if a draft law providing for the Cyprus loan guarantee scheme is in line with the ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

GAP_DSV_16/03-15/04_300x250px
Pasyxe_28/04-28/06

IMH LTD