Press releases

Deloitte advises United Arab Chemical Carriers on landmark merger with United Overseas Group Ltd

UOG to acquire United Arab Chemical Carriers 

24 March, 2021 – United Arab Chemical Carriers (UACC) and United Overseas Group Ltd (UOG) have finalized a landmark merger this week, an agreement that was facilitated by Deloitte.

UACC was established in 2007 as a shipping business engaged in the international transportation of refined products and chemicals. Shareholders consist of a number of regional sovereign wealth funds, government institutions and prominent family offices. The company owns and operates 20 vessels comprising nine IMO2/3 chemical tankers, two LR1 tankers and nine MR tankers. Additionally, it operates two vessels on bareboat charter.

Deloitte were appointed by the Board of UACC in October 2018 to support management in the sale of the company. In May 2020 Maritime Equity Management (MEM), a management company led by Peter Georgiopoulos, an experienced shipping investor and operator, was selected as the preferred bidder.

Robin Butteriss, Partner, Corporate Finance Advisory at Deloitte Middle East, led this complex, precedent-setting transaction which has been structured as a reverse triangular merger with UOG, a wholly owned a subsidiary of MEM. This will be the first such merger under the Companies Law of the Dubai International Financial Centre (DIFC).  

“We are honoured to have been selected as trusted advisors by UACC as the company embarks on this new chapter, especially as it is the first merger of its kind under the Companies Law of the DIFC. This merger highlights the opportunities available in the GCC and wider Middle East market as well as Deloitte’s Financial Advisory’s ability in the Middle East to deliver large complex transactions involving multiple service lines,” said Butteriss.

Press contact

Nadine El Hassan
Public Relations Regional Leader
Deloitte Middle East
Tel: +961 (0) 1 748444

Click here for the Arabic version

About Deloitte & Touche (M.E.) LLP: 

Deloitte & Touche (M.E.) LLP (DME) is the affiliate for the territories of the Middle East and Cyprus of Deloitte NSE LLP (“NSE”), a UK limited liability partnership and member firm of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”).

DME is a leader in professional services with uninterrupted presence in the Middle East since 1926 with 26 offices in 14 countries and around 5,000 partners, directors and staff. DME’s presence in the Middle East and Cyprus is established through its affiliated independent legal entities, which are licensed to operate and to provide services under the applicable laws and regulations of the relevant country. DME’s affiliates and related entities cannot oblige each other and/or DME, and when providing services, each affiliate and related entity engages directly and independently with its own clients and shall only be liable for its own acts or omissions and not those of any other affiliate.


About Deloitte:

Deloitte refers to one or more of DTTL, its global network of member firms, and their related entities. DTTL (also referred to as “Deloitte Global”) and each of its member firms are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL, NSE and DME do not provide services to clients. Please see to learn more.

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