Shipping acquisition gets the green light
Competition Commission approves acquisition
SOUTH AFRICA: The Competition Commission approved the proposed transaction whereby Mitsui O.S.K. Lined, Ltd intends to acquire Gearbulk Holding AG, without conditions noting that the transaction does not raise any public interest concerns and does not substantially lessen or prevent competition in any market.
The primary acquiring firm, MOL, is a public company incorporated in Japan and listed on the Tokyo Stock Exchange and controls In South Africa, MOL controls the following firms: MOL Auto Carriers South Africa (Pty) Ltd, MOL South Africa (Pty) Ltd and Fairfield Chemical Carriers South Africa (Pty) Ltd in South Africa.
The Acquiring Group is an integrated multi-modal transportation group engaged in a wide range of activities, including the operation of dry bulkers, chemical tankers, liquefied natural gas carriers and car carriers.
They operates a large fleet of dry bulk carriers and transports a wide variety of dry cargoes, from resources such as iron ore, coal, wood chips and biomass fuels to intermediate goods and products like fertiliser, grain, cement, salt, and steel products. They are also involved in the transport of vehicles through their car carrier business.
Controlled by Halberton Holding AG and MOL, Gearbulk, is incorporated in Switzerland and controls various firms globally
In South Africa, Gearbulk indirectly controls G2 Ocean South Africa (Pty) Ltd. Gearbulk is a global dry bulk shipping company that offers tailored shipping solutions for various industries, including raw materials, metals, and forest-based industries, as well as renewable energy and automotive industries.
PHOTO: MOL Car Carrier (Source MOL website)
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