Allen & Overy advises owners of shipping company Carl Büttner on selling the company to the Lomar Group

Established in 1856, Carl Büttner has been owned and managed by five generations of the family owners. The company boasts a modern fleet and is known both for its technical management expertise and its strong maritime legacy. Carl Büttner's current fleet includes seven oil, product and chemicals tankers in the 24,000 and 38,000 dwt segment. As a result of the takeover, the company and the majority of its fleet will pass to the Lomar Group.

The Lomar Group is a leading ship owning and management group with a very diversified, mixed fleet of around 50 vessels. It has acquired more than 45 years' experience in the industry as a ship owner and operator, and works with major companies and big players across the world. The Lomar Group itself is a subsidiary of the family owned, London based Libra Group, a global corporate group whose subsidiaries operate predominantly in six key sectors, including transport, with assets and operations in almost 60 countries.

The Allen & Overy team was led by partner Dr Nicolaus Ascherfeld, counsel Marie-Luise von Buchwaldt and associate Daniel Nikolaus Wendler (Corporate/M&A, Hamburg). It also included partner Dr Heike Weber (Tax, Frankfurt), senior associates Juliane Dieckmann-Keden (Corporate/M&A, Hamburg), Dr Tobias Wintermantel (Banking & Finance, Frankfurt) and Anna Kräling (IP, Düsseldorf), associates Juliana Palavra Gorgueira, Dr Jakob Schultehinrichs (both Corporate/M&A, both Hamburg), Katharina Jünemann (IP, Düsseldorf), Dr Manuel Köchel (Tax, Frankfurt), Merle Herrmann (Employment & Benefits), and transaction officer Dario Barbato (Corporate/M&A, both Hamburg).

The Hamburg based investment management and financial advisory firm Transport Capital (Oliver Faak, Piyush K. Sharma) advised the sellers and negotiated on their behalf.