Mitsui OSK Lines to acquire 72% of Gearbulk

Chamber of Shipping > Blog > News > International > Mitsui OSK Lines to acquire 72% of Gearbulk

Gearbulk Holding AG (Gearbulk) has announced that Mitsui OSK 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% by January next year. Kristian Jebsen and his family will retain a 28% shareholding in Gearbulk. The transaction is a natural continuation of the close and long-term partnership between Gearbulk and MOL, which dates back to 1991. Gearbulk and the Grieg Maritime Group will continue to own 65% and 35% of G2 Ocean, respectively. Kristian Jebsen will continue as Chair of the G2 Ocean Board of Directors and keep his role as Chairman and CEO of Gearbulk. Gearbulk Holding will maintain its presence in Switzerland and Gearbulk Shipowning will relocate from Bermuda to Bergen, Norway.

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