Altera Infrastructure Holdings L.L.C. (Altera), a subsidiary of Altera Infrastructure L.P., has signed an agreement to sell its entire stake in Altera Shuttle Tankers L.L.C. (AST) to Maistros Shiptrade Limited, an affiliate of the Angelicoussis Group.
AST, a shuttle tanker operator, manages a fleet of 18 vessels operating in Brazil, Canada, and the North Sea. This sale to the Angelicoussis Group, one of the world’s largest private shipping conglomerates, combines two significant industry players, bringing Altera’s assets into a new phase under experienced ownership.
This acquisition will allow the Angelicoussis Group, with its established fleet of 144 ships and additional vessels on order, to expand its shuttle tanker operations with AST’s expertise and well-established client relationships.
According to Angelicoussis Group CEO, Maria Angelicoussis, the shared values of excellence and commitment to sustainable practices will enhance their service offerings across a growing shuttle tanker market. Altera’s Acting CEO, Duncan Donaldson, highlighted the alignment in core values and operational goals as a promising foundation for future growth.
The transaction is expected to finalize in the first half of 2025, pending regulatory approvals. Key advisors in the deal included Jefferies as financial advisor, Rystad Energy as commercial advisor, Kirkland & Ellis and Schjødt as legal advisors, and PwC for tax advice.
