A newly formed leader within the LPG and Petrochemcial sector

Ince & Co LLP advised the Epic Shipping Group, a Singapore based LPG ship owner and operator, on its merger with Pantheon Inc, a Greece based LPG shipping operator, to form Epic Pantheon International Gas Shipping Ltd (E-P Gas). Ince also advised the key shareholders/investors in the Epic Shipping Group on their investment into the new E-P Gas.

E-P Gas, based in Singapore, with additional offices in Athens and London, will operate a fleet of 22 modern 3,200 cbm to 7,200 cbm fully-pressurized gas carriers with complete in-house technical and commercial management capabilities.

Ince & Co’s London-based corporate partners Stephen Jarvis (pictured - top) and Tanya Nash (pictured - right) led the team that advised on the multi-jurisdictional transaction involving advisors and parties in Greece, the BVI, Marshall Islands, Singapore, the UK and USA. The transaction involved a group reorganisation, multi-layered joint venture arrangements, corporate sales and the simultaneous refinancing of the entire group. Substantial new equity financing was provided by Jefferies Capital Partners, Shipping and Intermodal Investment Management (the shipping fund of DVB Bank), Chris Buttery and other backers of the Epic Shipping Group and the backers of the Pantheon group.

Stephen Jarvis comments: “We are delighted to have assisted long-standing client Epic Shipping on the formation of E-P Gas. The merger reinforces the foundations for an industry leader, and we look forward to supporting the team’s future endeavours.”

Mike Dean, Finance Director of Epic Shipping comments: “This was an extremely complex transaction, executed in a very compact timeframe, but yet again Ince rose to the occasion and surpassed expectations.  Their in-depth understanding of the shipping sector and our commercial needs coupled with their willingness to go the extra mile is what sets them apart from their peers.”

The Ince team included senior associates Matthew Stratton and Mona Patel (corporate) and Jeff Morgan (ship finance), solicitors James Gilbertson and Richard Hyman (corporate) and tax consultant Clare Smith. The team was further supported by a number of trainee solicitors based in the firm’s London office.

Linklaters, Stroock & Stroock & Lavan LLP, Maples & Calder and Alan & Gledhill advised Jefferies Capital Partners. Norton Rose advised Pantheon Inc. Watson Farley advised Lloyds TSB Bank. Debevoise advised DVB.

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