SOURCE: Bravia Capital Partners

Bravia Capital Partners

Bravia Capital Partners

November 15, 2010 12:55 ET

Oceanus International Investment AS Makes Investment in Fairstar Heavy Transport

NEW YORK, NY--(Marketwire - November 15, 2010) - Oceanus International Investment AS (Oceanus), a Norwegian investment company jointly owned by HNA Group and Bravia Capital of New York, announced today that it had acquired a significant minority shareholding in Fairstar Heavy Transport (Fairstar), which is listed on the Oslo Stock Exchange (OSLO: FAIR), making it the largest shareholder at 29.9 percent. This significant investment aligns with HNA's strategy to continue to build its presence as a dominant player in the global transportation sector. Terms of the deal were not disclosed.

Today's announcement comes on the heels of several notable acquisitions and investments made this year by HNA and Bravia, including last week's acquisition of myTECHNIC, an aircraft maintenance and repair facility in Turkey. HNA and Bravia also acquired Allco Aviation, now Hong Kong Aviation Capital, earlier this year as well as a 33.3% shareholding in GTB Invest ASA, a listed shipping company in Norway.

"Fairstar is one of the leading companies in the marine heavy transportation sector," said Adam Tan, Executive Director of HNA Group. "We believe Fairstar offers serious growth opportunities."

As a top provider of marine heavy transport solutions, Fairstar moves high-value cargoes for offshore energy and construction projects.

"This transaction demonstrates our commitment to the global transportation and energy sectors, two of the most dynamic sectors in today's global marketplace," said Bharat Bhise, CEO of Bravia Capital Partners. "We see great promise in continuing to identify opportunities for Bravia and HNA to invest in the future of these two industries."

Based in Rotterdam, Fairstar operates two vessels the "FJORD" and the "FJELL." In addition to its current ships, Fairstar has two new buildings on order to be delivered in 2012. These ships are "true open stern" which will have maximum cargo versatility and removable buoyancy towers, as well as the ability to fully submerse in 12 meters of water, making them the most effective of ship types used in the heavy marine transport business. Fairstar is one of only two global organizations to operate this type of vessel.

About HNA Group
HNA Group Co. Limited ("HNA") is a leading China-based conglomerate with substantial interests in tourism, transportation, financial services, real estate, infrastructure and logistics. Based in Haikou and Beijing, China, HNA has total assets exceeding USD $ 30 billion. Please find more information at www.hnagroup.com.

About Bravia Capital
Bravia Capital is a New York based advisory, structured financing and investment management entity with a primary focus on transportation projects in Europe and Asia. Please find more information at www.braviacapital.com.