Mitsui & Co. Acquires 28% Stake in Gearbulk
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Author: Jason Dunn
October 14, 2024
Japanese conglomerate Mitsui & Co. will acquire a 28% stake in Gearbulk Holding.
**Gearbulk** founder **Kristian Jebsen** and his family have agreed to sell their remaining shares. According to company announcements, the transaction will further enhance Gearbulk’s investment capabilities and strengthen its commitment to **G2 Ocean**, a joint venture with Grieg Maritime Group that operates over 120 vessels.
“I am pleased that Mitsui has decided to invest in and support Gearbulk’s growth. Together with MOL’s existing 72% stake, this provides a solid foundation for the company’s continued development. Mitsui and Gearbulk have enjoyed an extensive business relationship spanning more than three decades, making this investment a natural progression,” said **Jebsen**.
The company’s operations will remain unchanged, and relationships with clients and other stakeholders will continue as usual. Jebsen will retain his positions as Chairman and CEO of Gearbulk and Chairman of G2 Ocean.
G2 Ocean CEO **Arthur English** looks forward to welcoming Mitsui as a partner in supporting the growth of G2 Ocean. He stated: “We are looking forward to welcoming Mitsui as an important partner while we continue to renew our fleet and expand our services. G2 Ocean and its owners are committed to providing safe, reliable, and sustainable solutions for all our customers.”
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Source Website: Heavy Lift & Project Forwarding International
