Clifford Chance advised Qatar Navigation QSC (Milaha) on acquiring, through its wholly owned subsidiary, Qatar Shipping Company, the remaining 60% interest in each of the two entities that own the Liquefied Natural Gas (LNG) carriers, Milaha Ras Laffan and Milaha Qatar, from Société Générale, thereby increasing its stake in those entities from 40% to a controlling 100%.
The vessels are chartered to RasGas under a 25 year long-term fixed time charter agreement. Milaha Ras Laffan and Milaha Qatar have approximately 14 years and 16 years remaining, respectively, under the time charter agreement.
Jason Mendens said, “We are very pleased to work with Milaha on this important transaction. It reflects Milaha’s disciplined execution of its long term strategy of investing in core businesses.”
The Clifford Chance team was led by Jason Mendens working with Daniel Boyle, Nick Newman, Omar ElZorkany, Gwendolyn Muller, Regina Goebel, Robin Hickman and Thomas Weitkamp.
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