Dubai ‘s asset manager liberated Stanford Marine group (SMG)by saving 1800 employments

Dubai ‘s asset manager liberated Stanford Marine group (SMG)by saving 1800 employments

 

 

Stanford Marine AED 1.13 billion ($308 million) Shares has been brought as Leveraged buyout by Dubai’s ç, which is a leading asset management and investment banking Sector. In this bargain it saved 1800 positions abd $200 million value of vessels exports

 

SMG serves the Oil and Gas industry and emphases on: Chartering of Offshore Support Vessels under the name of Stanford Marine and Ship Building & Repair under the name of Grandweld

Since 2019, Shuaa Capital has been working with Stanford Marine’s funding organization and its mentors stroked buyout agreement by meeting all parties’ goals.

The asset manager stated on sunday that redesigning will intensifies Stanford Marine’s fluidity

Shuaa Capital stated that they also facilitated to protect more than 1,800 positions and yearly exports of $20 million approx.. value of vessels built in the Grandweld shipyard’s facility in Dubai Maritime City with redesigning the SMG

 

Jassim Alseddiqi, CEO of Shuaa Capital, stated  inspite of 2020 COVID-19 lockdown

"We had roundtable with the SMG financial consultant and worked collectively to create win-win situation for all the stakeholders

We are honored to accomplish the deal , by saving 1800 employees positions ,seafarers and their livelihoods ,also by stabilizing SMG operations

Expecting that the Redesigning deal will resolve all stakeholders requirements and it will act as a prototype for forthcoming similar deals"

 

Elias Nassif, CEO of SMG, Stated

“Shuaa Capital has succeeded to pull off a complicated reorganization platform well by offering the company a new agreement of life”.

This deal is segment of the Private Markets action of Shuaa Capital and is held as a co-investment medium.

 

More news

During Pandemic The UK Marine team is giving on job training to cadets

READ NEWS

Great salvage operation in shark-infested waters

READ NEWS

Would you like to watch some videos?

TOP 5 Ship Collision. Vessels crash.