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Tristar gets $100m investment from Kuwait

Tristar gets $100m investment from Kuwait

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Kuwait-based Gulf Investment Corporation (GIC) has bought a $100m equity stake in UAE-based Tristar Group. Tristar will use the funds to expand its business, it said in a release.

Following GIC’s investment in Tristar, the company will be owned by Agility, GIC and the founder and chief executive of the Tristar Group, Eugene Mayne (pictured).

Founded in 1998, Tristar today has 22 ships in its product tanker focused fleet. Last year it bought Abu Dhabi-based Eships from Oldendorff.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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