WFW advises ZEABORN on joint venture with Intermarine Group31 May 2018
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Watson Farley & Williams (“WFW“) has advised Bremen-based ZEABORN Group (“ZEABORN”) on its new project and heavy-lift cargo joint venture with Houston-based Intermarine Group (“Intermarine”), ZEAMARINE.
The transaction entails the transfer of all relevant multi-purpose and heavy-lift assets and operating entities from both Intermarine and ZEABORN, including the latter’s subsidiary Rickmers Line, to ZEAMARINE. The two parent groups remain wholly independent outside of the joint venture. The transaction remains subject to approval from competition authorities.
ZEAMARINE has more than 75 vessels, expected to exceed 100 by year-end, and will operate out of Germany, the US, Denmark, Cyprus, Japan, Belgium, Singapore, Korea, China, Malaysia and Dubai as well as other jurisdictions.
ZEABORN, whose main shareholder is Bremen-based entrepreneur Kurt Zech, is a global shipping company providing services along the entire value chain of a modern shipping business, from financing and commercial and technical management to cargo brokerage of its own and chartered vessels. WFW previously advised ZEABORN on its acquisition of Rickmers Linie in February 2017, Rickmers Shipmanagement in September 2017, and E.R. Schiffahrt in February 2018.
Christian commented: “We are delighted to have again advised ZEABORN on this strategically important transaction. Our well-established relationship with ZEABORN and our experienced team of lawyers from various practice groups significantly contributed to the success of this transaction and demonstrates once again the unrivalled expertise and comprehensive advice WFW’s Maritime Group can bring to industry players”.