Deal of the Year – 2002 M&A and Joint Ventures

In shipping charter parties, a good broker makes both parties feel that they have won the negotiation, while it is likely that both have yielded more than they would have at the start. In shipping M&A brokers and advisors too are involved, but, unless the deal is an obvious one between friendly parties, this “good broker” dynamic is often lost because the deals are done in a public forum.

2002 was a down year in shipping in general and while there were some notable successes this year, see below, just as notable was the abundance of big merger ideas that did not come to fruition. Think about what did not happen in 2002 (so far):

1. Royal Caribbean/P&O Princess/Carnival saga.

1. Torm/Norden

1. AET and MISC/General Maritime/Teekay?

1. SCI Privatization and ???

1. Bergesen/Worldwide

1. Golar’s rumoured sale

1. Rumoured merger of PSA and NOL

The list goes on…

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