Kristian Jebsen and his family will sell their remaining 28 per cent stake in Swiss shipping company Gearbulk Holding to Marubeni Corporation of Japan. The parties expect the transaction to be concluded soon.
Gearbulk said the transaction will further strengthen its 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.
Gearbulk assured that its 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 CEO and as Chairman of G2 Ocean.
The remaining 72 per cent of Gearbulk will meanwhile be acquired by its affiliate, Japanese shipping company Mitsui OSK Lines (MOL). This earlier transaction is scheduled to close by January 2025 and is part of a business reorganisation plan.
Gearbulk specialises in the open-hatch vessel segment, controlling a fleet of 60 vessels. Its operations entail the transport of various semi-finished products as well as small-lot and project cargo.