Germany’s HSH Nordbank has sold FSL Holding, the holding company of Singapore’s FSL Trust, to an affiliate of Greek shipowner Prime Tanker Management.
HSH Nordbank, which was sold today to a group of private investment companies, put the holding company representing a 24% stake in FSL Trust up for sale in December.
“The Trustee-Manager views this as a positive development for the Trust and anticipates that with a long-term strategic investor controlling the Sponsor, prospects for a refinancing and/or extension of the Trust’s indebtedness should be improved,” FSL Trust said in a release.
Stathis Topouzoglou, the founder and CEO of Prime, has been appointed to the board of FSL as a non-executive director.
FSL currently has a fleet of 19 vessels, made up of three containerships and 16 tankers in various segments.