Altera Infrastructure announces divestment of Altera Shuttle Tankers L.L.C.

WESTHILL, United Kingdom, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Altera Infrastructure Holdings L.L.C. (Altera), a wholly owned subsidiary of Altera Infrastructure L.P., has entered into an agreement to sell all its membership interests in Altera Shuttle Tankers L.L.C. (AST) to Maistros Shiptrade Limited, a company affiliated with the Angelicoussis Group.

Altera Shuttle Tankers L.L.C. is a leading shuttle tanker provider, owning and operating 18 shuttle tankers in Brazil, Canada and the North Sea.

The Angelicoussis Group is one of the world's largest privately owned shipping groups, currently with 144 vessels on the water and 23 vessels (including three shuttle tankers) on order.

This transaction brings together Altera Infrastructure's shuttle tanker business and the Angelicoussis Group, strengthening the business through a shared foundation of maritime expertise and industry heritage. With this alignment, the combined shuttle tanker operation is well positioned to strengthen its position as one of the largest global fleets in its segment, benefitting from the experience and operational strengths of both parties.

"I am pleased to announce that one of our affiliated companies has signed a deal to acquire Altera Shuttle Tankers," said Maria Angelicoussis, CEO of the Angelicoussis Group. ...