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First Reserve Corporation News

13 Dec 2013

Diamond S. in CarVal Investment Fund Product Tankers Deal

Diamon S. Vessel: Photo courtesy of the owners

Diamond S Shipping Group inform they have acquired three modern medium-range clean product tankers from funds managed by CarVal Investors. In the transaction, a group of funds managed by CarVal became a significant investor in the Diamond S clean product tanker business, and Ranjit Ahluwalia, managing director of CarVal, joined the Diamond S Board of Directors. Founded by Cargill Inc. in 198, CarVal Investors is a global investment fund manager. “With refined product exports from the U.S.

14 Oct 2011

Diamond S Shipping Completes 30-Tanker Acquisition

Diamond S Shipping announced today that it has completed the acquisition of 30 medium-range product tankers and related charters from Cido Shipping of Hong Kong. The product tankers, built between 2007 and 2010, are under long-term charters with a number of global shipping companies, including A.P. Moeller, d'Amico, Hyundai Merchant Marine, Overseas Shipholding Group and ST Shipping. The tankers are being added to Diamond S' fleet of ten new buildings now under construction, with the first delivery scheduled for January 2012. A group of institutional investors led by WL Ross & Co. and First Reserve Corporation, and including China Investment Corporation…

17 Aug 2007

Acteon Completes Acquisitions

Acteon has completed the acquisition of three companies from the Aberdeen-based Craig Group. They are Seatronics, International Mooring Systems (IMS) and Chain Corporation International (ChainCo). David Currie will continue to lead Seatronics; and Alan Duncan will head IMS and ChainCo. Both will report to Acteon Vice President Bernhard Bruggaier. The activities of IMS and ChainCo are very much in line with existing Acteon companies InterMoor and Trident – the two new companies will considerably improve Acteon’s overall offering in the moorings market. As a whole, InterMoor and IMS together will possess the world’s largest inventory of mooring equipment available for rental. The acquisition of Seatronics provides an entry for Acteon into the advanced marine survey sector.

21 May 2007

Quintana Announces Sale by FR X Offshore, and Resignation

Quintana Maritime Limited announced that FR X Offshore, L.P. sold 2,000,000 shares of Quintana's common stock and that Joseph R. Edwards, who is affiliated with FR X Offshore, resigned from Quintana's board of directors. FR X Offshore, an affiliate of First Reserve Corporation, is a private equity fund specializing in the energy industry. Prior to the sale on May 17, which was conducted as a broker's transaction in compliance with Rule 144 under the Securities Act of 1933, as amended, First Reserve beneficially owned approximately 6.9% of Quintana's outstanding common stock through FR X Offshore. Following the sale, First Reserve beneficially owns approximately 3.2% of Quintana's outstanding common stock.