Global law firm Norton Rose Fulbright has advised Gener8 Maritime Inc on its merger with Euronav NV. Gener8 will become a wholly owned subsidiary of Euronav.

The merger will create one of the world’s largest independent large crude tanker operators, with joint balance sheet assets of US$4 billion.

Norton Rose Fulbright advised on the shipping aspects of the deal, including providing due diligence advice to Gener8 on Euronav’s fleet and operations and Gener8’s disclosures as a listed company. The firm also provided competition advice in relation to the withdrawal of Gener8’s fleet from tanker pools.

The Norton Rose Fulbright team was led by Global Head of Transport, Harry Theochari and included London based of counsel Scott McCabe, associate Nicholas Papadopoulos and senior associate Liana Miliotis. The team further comprised US head of transport Brian Devine and counsel Kassandra Savicki, and Brussels partner Michael Jurgen Werner.

Harry Theochari commented:

“We are delighted to have advised Gener8 on this merger. It illustrates a trend we expect to continue, as the key market players strive to increase in size.”

Last month, Norton Rose Fulbright received the i-law Maritime Law Award at the 2018 Lloyd’s List Americas Awards gala in Houston. The award recognises excellence in the legal profession and honours the law firm that has offered the very best service to the maritime and shipping industry over the past 12 months.