trending Market Intelligence /marketintelligence/en/news-insights/trending/Q2uM8a5zXqhf_WnYpClo8g2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Triton to exit shipping investment, sell stake in waste-management company

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Triton to exit shipping investment, sell stake in waste-management company

Funds advised by private equity firm Triton agreed to sell Nordic Tankers A/S to MOL Chemical Tankers Pte. Ltd., and separately agreed to unload 8.8%, or 3.0 million shares, of waste-management company Befesa SA.

A portfolio company of Triton since 2012, Nordic is a chemical-tanker company, primarily operating in the Americas, trans-Atlantic and Europe. MOL is a wholly owned subsidiary of Japan-based shipping company Mitsui OSK Lines Ltd.

Institutional investors will buy the stake of Befesa through a private placement via an accelerated bookbuilding process, which started immediately, according to a Jan. 9 news release.

Triton-managed funds will remain the largest shareholder in Befesa, retaining 31.9% of the company's shares after the transaction. Under the terms of the deal, Triton agreed to a lock-up period of 60 days.

Berenberg, Citigroup and Commerzbank are overseeing the accelerated bookbuilding process for the Befesa deal.

Terms of the transactions were not disclosed.