Walkers Acts on $1.65 Billion Shipping Merger

Walkers is pleased to have acted as Cayman Islands legal counsel to DSS Holdings L.P. ("DSS Holdings") in respect of the merger with the tanker business of Capital Product Partners L.P. ("CPP") for approximately US$1.65 billion to create the third largest publicly listed operator of crude and product tankers in the world.

The transaction involved a restructure whereby CPP spun off its crude and product tanker business into a separate publicly listed company, Diamond S Shipping Inc. ("DSSI"). Immediately following the spin-off, a number of sequential mergers facilitated the acquisition of DSS Holdings, which merged into DSSI. DSSI shares were subsequently listed on New York Stock Exchange.

The Walkers team that advised on corporate, fund structuring and all general aspects of the deal under Cayman Islands law was led by partner Rolf Lindsay and assisted by associates Christopher Brett Young and James Campbell.