The shipping company d’Amico International Shipping S.A. announced that its operational subsidiary d’Amico Tankers D.A.C. acquired 100% control of Glenda International Shipping d.a.c. (Ireland) through the redemption of shares owned by Topley Corporation (Glencore Group). The remainder of the joint venture (50%) was recognized at a price of $ 27.4 million.
Paolo d’Amico, president and CEO of d’Amico International Shipping, called this agreement “an excellent opportunity for d’Amico I.S. This transaction will increase the size of the fleet with immediate effect and, given the very favorable market prospects, we believe we can obtain a good return on investment “.
CEO he added: “We also think that the purchase price paid by DIS is interesting not only with respect to market prospects but also based on recent transactions involving similar vessels and this has been possible thanks to the speed, ease and certainty in the execution that we have been able to offer to the Glencore Group. The four ships owned by Glenda International Shipping have been built in one of the main shipyards and we have a deep knowledge of these ships as the d’Amico Group has supervised their construction and always managed them on a technical level, since their delivery. by the yard “
About DIS
d’Amico International Shipping S.A. (DIS) is the d’Amico division operating in the Product Tanker sector, listed since 2007 on the Milan Stock Exchange. It has a modern fleet specialized in the transport of refined petroleum products, serving the main petroleum companies and trading companies. Endorsing MARPOL/IMO* regulations, the Company can also transport vegetable oil and other chemical products. With chartering and operations offices in strategic locations such as Dublin, London, Singapore and USA, DIS offers a unique 24/7 client service
Source : Shipping Italy
