White & Case advises Eugene Mayne and Diamond Holdings on sale of majority stake in Tristar to Aegis Logistics

Global law firm White & Case LLP has advised Eugene Mayne, Founder and CEO of Tristar Group, and his holding company Diamond Holdings, a minority shareholder of Tristar Group, on Aegis Logistics' agreement to acquire an 89.8 percent stake in Tristar, a UAE-headquartered energy logistics business, in a transaction that values Tristar at an enterprise value of US$1.5 billion.

"This is a significant transaction for Eugene, Diamond Holdings and the Tristar business," said White & Case partner Marcus Booth, who co-led the Firm's deal team. "It brings together a leading global energy logistics platform and a major strategic investor, and reflects the continued appeal of high-quality, Middle East-headquartered businesses in the cross-border M&A market."

Established in 1998, Tristar serves the downstream oil and gas industry, with capabilities in fuel supply, storage and transportation, including aviation fuel and LPG.

Aegis Logistics is one of India's largest oil, gas and chemical logistics companies, and one of the country's leading liquefied petroleum gas importers.

The White & Case team in Dubai which advised on the transaction was led by partners Marcus Booth and Roger Gaspard and included local partner Omar Anwar and associates Tigran Saakyan and Reece Patel.

Press contact
For more information please speak to your local media contact.