Eversheds Bitans has advised Scorpio Services Holding Limited on its acquisition of a 60% stake in SIA Astor Shipmanagement, a Latvia based company providing crewing services for different types of vessels world-wide. The identity of the seller was not disclosed.
The U.S. based Scorpio Services Holding Limited provides administrative services which include accounting, legal compliance, financial, and information technology services. Moreover, through its subsidiaries, the company provides technical and commercial vessel management services.
The Eversheds Bitans team advising Scorpio Services Holding Limited over the span of negotiation and execution of the entire 2-year transaction was led by Consultant Mikus Freimanis and Associate Elina Vilde. Mikus Freimanis commented: "We are delighted that we were able to successfully close this deal. Taking part in protracted negotiations and dealing with execution of an important transaction such as this from day one to completion has been a great honor and, simultaneously, a challenge. We were privileged to have an opportunity to work together with a team of experienced and highly regarded managers of Scorpio who have decided to acquire a majority stake in a Latvian crewing service provider. We would like to wish the best of luck and success to the new shareholder and the company in achieving their business objectives.“
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