It was announced on October 8 that Kristian Jebsen and his family will sell their remaining 28% stake in Gearbulk Holding AG to Marubeni Corporation of Japan. The transaction is expected to be concluded soon. It was reported earlier this year that Japan’s shipping major Mitsui O.S.K. Lines (MOL) became Gearbulk’s main owner with 72%.
“Gearbulk Holding AG (Gearbulk) announced that Mitsui O.S.K. Lines (MOL), which currently holds 49% of the shares in Gearbulk, will acquire an additional 23% stake in the company and become the majority shareholder with 72%. Kristian Jebsen and his family will retain a 28% shareholding in Gearbulk,” said Gearbulk on June 25.
Now Kristian Jebsen and his family will sell their remaining 28% stake in Gearbulk Holding AG to Marubeni Corporation.
The Tokyo Stock Exchange-listed Marubeni, with roots going back to 1858, is an integrated Japanese trading and investment conglomerate, which according to Gearbulk will bring additional financial strength and extensive business experience.
It is believed that this transaction will increase Gearbulk’s investment capacity and reinforce its commitment to G2 Ocean, a joint venture between Gearbulk and the Grieg Maritime Group, that operates more than 120 ships.
“I am pleased that Marubeni has decided to invest in and support the development of Gearbulk. This, together with MOL’s 72% holding, gives a strong continuity of the company for all stakeholders. Marubeni has had a close business relationship with Gearbulk for more than thirty years and the investment is a natural next step,” says Kristian Jebsen.
The company’s operations will remain the same and relations with customers and other stakeholders will continue as before.
Mr Jebsen will continue as Gearbulk’s chairman and chief executive officer and as chairman of G2 Ocean.
