Freshfields advises Tristar Group on Aegis Logistics’ proposed US$809 million acquisition of an 89.8% stake

Global law firm Freshfields is advising Tristar Group and its shareholders in connection with the acquisition by Aegis Logistics, one of India's leading gas and energy logistics providers, of an 89.8% equity stake in Tristar for US$809 million. 

The transaction, which is subject to customary regulatory approvals, will see existing shareholders, Agility Global and Gulf Investment Corporation exit fully with its founder and CEO, Mr Eugene Mayne, retaining a stake in the business and continuing in role post-completion.

Headquartered in Dubai, Tristar is a global energy logistics company providing end-to-end fuel supply chain solutions to international and national oil companies, commercial enterprises and intergovernmental organisations, including the United Nations.

The partnership is expected to deliver operational synergies, diversify service offerings and support Tristar’s growth, including by increasing its exposure to the LPG sector and strengthening its presence in India.

The Freshfields team is led from Dubai by partner Pervez Akhtar (Global M&A and Capital), with support from counsel André van Zyl Gow, senior associate Nalothiya Nambirajah, and associates Andrea Pandazopoulos and Sahal Suleman. Additional support was provided by counsel Tabasam Faqir, associate and Izzet Hassan, and trainee associate Anushna Tyagi. Antitrust, competition and trade support is being provided by partners Tuna Tanik and Aaron Green, and associate Carla Sava, together with special counsel Andrew Cline in Washington, DC.