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Article: Mintz Levin Serves as Lead Counsel in Grandunion Inc. Acquisition of Control of Aries Maritime Transport Limited.
- Article from:
- Mergers & Acquisitions Week
- Article date:
- November 4, 2009
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Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. announced that it represented Grandunion Inc. in its acquisition of control of Aries Maritime Transport Limited, (Nasdaq: RAMS), a leading international shipping company that owns product tankers and container vessels.
In the transaction, Grandunion acquired 18,977,778 newly issued common shares in Aries. Grandunion acquired the shares in exchange for contributing three Capesize vessels to Aries and for arranging for $145 million of new debt financing for Aries (represented by $145 million in aggregate principal amount of 7% senior unsecured convertible notes due 2015) and the refinancing of Aries' existing ...
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