Gearbulk Announces New Ownership Structure

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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.

Long-term partnership 

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.

World’s largest shipping company

As a global leader in shipping, MOL brings valuable industry knowledge and financial resources that will support G2 Ocean’s and Gearbulk’s continued success.

Kristian Jebsen, Chairman and CEO of Gearbulk, commented on the deal in a joint press release from Gearbulk and MOL:

Toshinobu Shinoda, Senior Executive Officer at MOL expressed his gratitude and appreciation for the partnership with Jebsen and Gearbulk.

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Source: Gearbulk