{"id":79140,"date":"2024-06-11T00:00:00","date_gmt":"2024-06-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/06\/11\/uaes-magellan-capital-snaps-up-majority-stake-in-danish-ship-finance\/"},"modified":"2024-06-11T00:00:00","modified_gmt":"2024-06-11T00:00:00","slug":"uaes-magellan-capital-snaps-up-majority-stake-in-danish-ship-finance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/06\/11\/uaes-magellan-capital-snaps-up-majority-stake-in-danish-ship-finance\/","title":{"rendered":"UAE\u2019s Magellan Capital snaps up majority stake in Danish Ship Finance"},"content":{"rendered":"

UAE-based investor <\/strong>Magellan Capital<\/a><\/strong> is set to snap up 90% of ship financing firm <\/strong>Danish<\/a><\/strong>Ship Finance<\/a><\/strong> (DSF) in a EUR 700 mn transaction,<\/strong> Bloomberg<\/a> reports. The move comes as Magellan looks to diversify its investment portfolio, and marks the group\u2019s first major investment. A timeline for the acquisition was not disclosed.<\/p>\n

Details:<\/strong> The acquisition will see Magellan become a majority shareholder in the company, acquiring 90% of the firm from Nordic private equity player Axcel and two Danish pension funds which had bought DSF in a 2016 USD 613 mn transaction, Bloomberg said. Danish Maritime Fund will retain the remaining 10% stake in the company. <\/p>\n

Magellan is beefing up its portfolio:<\/strong> Despite its origins in the marine services sector, Magellan is looking to diversify its portfolio by adding advisory and services, CIO Ahmed Omer said. The outfit is funding its expansion from USD 1.1 bn that its owner Hassan El Ali set aside after selling<\/a> Zakher Marine to Adnoc Logistics & Services. <\/p>\n

News of the sale was first picked up in April,<\/strong> when Mubadala Investment Company was named as a potential DSF buyer, TradeWinds<\/a> reported citing an InsideBusiness report. DSF had responded to the claims by reiterating that a clarification was coming in 1H 2024.<\/p>\n

About DSF: <\/strong>The Copenhagen-based vessel mortgage finance provider finances some 679 vessels and holds a USD 4.9 bn shipping loan book.<\/p>\n","protected":false},"excerpt":{"rendered":"

Magellan will own 90% of the Danish ship financing firm<\/p>\n","protected":false},"author":1,"featured_media":79141,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[941],"tags":[137,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-79140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-ma-watch","tag-uae","wpautop","entry"],"acf":{"mongo_id":"f291db8a-1577-4d4d-9bf1-fa19df7d60ca","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/1178.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UAE\u2019s Magellan Capital snaps up majority stake in Danish Ship Finance","related_issue":[79135],"teaser":"Magellan will own 90% of the Danish ship financing firm","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.2befbf3b-f47e-4576-a0a8-d3f5a0c8f844.mp3"},"yoast_head":"\nUAE\u2019s Magellan Capital snaps up majority stake in Danish Ship Finance - 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