Marubeni Corporation Acquires 28% in Gearbulk

Oct. 8, 2024 - Gearbulk today announced that Kristian Jebsen and his family will sell their remaining 28% stake in Gearbulk Holding AG to Marubeni Corporation of Japan.

Mr. Jebsen is Chair of the G2 Ocean Board of Directors and Chairman and CEO of Gearbulk.

The transaction is expected to be concluded soon.

Marubeni is a major integrated Japanese trading and investment conglomerate, which will bring additional financial strength and extensive business experience — important for Gearbulk’s continued growth.

The transaction will further strengthen 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 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 CEO and as Chairman of G2 Ocean.

Gearbulk is an integrated international shipping company providing high quality shipping and terminal services for various industrial sectors. Gearbulk is one of the owners of G2 Ocean, holding 65% of the company’s shares, while Grieg Maritime Group holds the remaining 35%. The majority of the Gearbulk fleet operates under G2 Ocean.

SOURCE: Gearbulk