Gearbulk completes business carveout led by MLL Legal
Deal News | Feb 06, 2025 | Legal Community Swiss
Swiss integrated shipping company Gearbulk, known for its extensive fleet of open hatch gantry and semi-open jib crane vessels, has initiated a strategic business transformation. MLL Legal successfully advised on the carveout of Gearbulk's non-core business, which will now be managed by the Jebsen family. The transaction also involved Japanese company Mitsui O.S.K. Lines acquiring a majority stake in Gearbulk's core segment, further solidifying its presence in the global shipping market. The financial gains from this deal will support Gearbulk's commitment to its joint venture, G2 Ocean, which operates a vast fleet exceeding 120 vessels. The legal advisory was led by MLL's team, including partners and associates across various specializations such as M&A, tax, and corporate finance.
Sectors
- Shipping
- Legal Services
- Corporate Finance
Geography
- Switzerland – Gearbulk is based in Switzerland, where the transaction and legal services are centered.
- Japan – Mitsui O.S.K. Lines, the acquiring company in the transaction, is based in Japan.
Industry
- Shipping – Gearbulk operates within the shipping industry, managing one of the world's largest fleets of open hatch vessels.
- Legal Services – MLL Legal provided comprehensive legal and tax advisory services for the transaction.
- Corporate Finance – The transaction involved significant corporate finance elements, including share acquisition and business carveout.
Financials
- 72 percent – Mitsui O.S.K. Lines acquired a 72 percent majority stake in Gearbulk's core business.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Gearbulk | Target Company | Company | A Swiss integrated shipping company with a large fleet of open hatch vessels. |
| Jebsen Family | Vendor | People | The family involved in managing the carved-out non-core business of Gearbulk. |
| Mitsui O.S.K. Lines | Bidding Company | Company | A Japanese ocean-shipping company acquiring a majority stake in Gearbulk's core business. |
| MLL Legal | Legal Advisor | Company | Provided legal and tax advisory services for the transaction. |