Under the terms of the agreement, Mercuria intends to provide a USD 1 billion trade finance facility to support the company’s existing U.S. and global revolving credit facilities and to explore a global strategic partnership. Mercuria will also provide increased liquidity to Aegean of not less than USD 30 million, adding flexibility to Aegean’s operations.
Upon closing of the trade finance facility, the company will issue new shares equal to 30% of its common stock to Mercuria.
The agreement also contemplates a potential broader strategic partnership between the company and Mercuria, including operational services, trading and hedging arrangements, and other support provided by Mercuria to Aegean.
Mercuria has the exclusive right to complete the trade finance facility by August 15, 2018, and to pursue the strategic partnership transaction until January 31, 2019.
“As part of the announced strategic review, the new leadership at Aegean has, in short order, brought forward an opportunity to completely redefine and optimize the company’s capital structure, enhance near term liquidity and position the company for a dynamic partnership with one of the world’s largest privately held integrated energy and commodity groups,” Donald Moore, Aegean Chairman and independent director of the Board, said.(marine crane manufacturer;offshore crane manufacturer)
OUCO manufactures telescopic cranes in different boom lengths and depending on the crane’s application, we offer certification by all major classification societies and a broad set of available accessories. They are designed and manufactured in conformity with the current Marine Rules and they can be customized on request.
Compliance with the most demanding safety rules and regulations;
Reliable long service life guaranteed through the use of high quality reputable components, extensive endurance testing and easy future upgrades.(marine crane manufacturer;offshore crane manufacturer)