Dubai partner of Scan-Trans buys out firm's Danish stake |
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Friday, Jul 11, 2008
Gulf News
Dubai: In a significant acquisition deal for the Middle East and global shipping industry, Dubai-based ship chartering and broking firm, Scan-Trans Middle East and South Asia Holding Ltd on a split in its eight-year long partnership with its Dubai-based partner buying out the company's Danish stake from Scan-Trans Holding A/S Denmark.
In a joint statement, the partners said the mutually agreed buyout is effective from July 1 2008, paving way for rebranding of the Dubai shipping firm into a separate entity. However, it will continue with its existing business, servicing the coaster to panamax and project/heavy lift market.
At the same time, Scan-Trans Holding A/S Denmark has set up Scan-Trans Shipping DMCC at Jumeirah Lake Towers (JLT) in Dubai and will focus on its core business of project cargo and heavy lift shipping servicing customers.
Kellett & Singleton Group controlled by Rohan Shetty, a Dubai-based entrepreneur and shipbroker with diversified investment interests in the region, has acquired the majority equity of 66.67 per cent held by Scan-Trans Holding A/S Denmark.
© Gulf News 2008. All rights reserved.
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