Mintz Levin Serves as Lead Counsel in Grandunion Inc. Acquisition of Control of Aries Maritime Transport Limited
10/21/2009
New York, NY – 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 senior debt. Mintz Levin also assisted with the sale of the convertible notes and the senior debt refinancing.
Representing Grandunion Inc. were Kenneth Koch and Ivan Blumenthal, both members in Mintz Levin's Corporate Practice. Carrie Kriefels and Mekhala Attonito, associates in the firm's Corporate Practice, also assisted in the transaction.
Mintz Levin is an AmLaw 100 law firm with offices in the US and the UK. The firm has exceptional depth in a broad range of practice areas, but our clients recognize that what sets us apart from other law firms is our industry focus. By truly understanding business drivers and industry trends, we are able to provide our clients with more than just legal advice; we provide legal solutions to our clients' business issues. Since 1933, our lawyers have represented entrepreneurs, emerging growth companies, Fortune 500 companies, government agencies, not-for-profit organizations and leaders in primary industries that include Life Sciences/Biotechnology; Technology & Communications; Energy & Clean Technology; Financial Services & Insurance; Healthcare; Real Estate, Hospitality & Construction; and Retail & Consumer Products. Our practical knowledge combined with our industry expertise enables us to provide our clients with enterprise legal advice that gives their business a competitive advantage in the marketplace.
