Allen & Overy is advising CPO Holding on the disposal of its tanker ship management business
30 April 2019
CPO Holding (GmbH & Co.) KG has signed an agreement to transfer 100 percent of the shares in Claus-Peter Offen Tankschiffreederei (GmbH & Co) KG („CPO Tankers“), the tanker management subsidiary of Offen Group. The transaction partners signed the relevant contracts on 29 April 2019. The completion of the transaction is subject to antitrust clearance. The parties have agreed to keep the key financial data confidential.
For Offen Group the divestment of its tanker ship management business came as a consequence of its future strategic focus on being an owner/manager of post-panamax container vessels, a segment where it continues to be one of the world’s top 3 players.
With the takeover of CPO Tankers, ZEABORN stays on track concerning its strategy to further consolidate the shipping industry and expanding its services as an integrated and globally active shipping company. The acquisition enables ZEABORN Ship Management to expand its service portfolio to the wet market for oil and product tankers.
The Allen & Overy-Team is being led by partner Dr Nicolaus Ascherfeld and includes counsel Max Landshut and the Associates Dr Stefan Witte and Dr Moritz Meister (all Corporate, Hamburg) as well as partner Dr Michael Ehret and Associate Sven Bischoff (both Tax, Frankfurt) with regards to the tax related aspects.
At CPO Holding (GmbH & Co.) KG, the project was managed by Andreas Lübben (General Counsel) and Dr Michael Busch.