Gleiss Lutz advises major Japanese shipping company “K” Line on sale of SAL Heavy Lift to Harren & Partner
Gleiss Lutz has advised Kawasaki Kisen Kaisha, Ltd. (“K” Line) on the sale of its subsidiary, Hamburg-based shipping company SAL Heavy Lift GmbH, to SALTO Holding GmbH & Co. KG, a subsidiary of Bremen-based shipping company Harren & Partner. The parties have agreed to keep the details of the transaction as well as the purchase price confidential.
“K” Line is a Japanese logistics company headquartered in Tokyo. It is one of the ten largest shipping companies in the world, specialising not only in shipment by sea, but also air freight and overland transport as well as port handling services. SAL Heavy Lift GmbH is one of the world’s leading carriers specialised in sea transport of heavy lift and project cargo. In 2007, “K” Line acquired a 50 percent stake in SAL; in 2011, the Japanese shipping company then acquired the remaining shares.
Harren & Partner, headquartered in Bremen, acquires and manages shareholdings in shipping companies and, with Combi Lift GmbH as one of its portfolio companies, is also active in the heavy lift and project cargo business.
“K” Line was advised extensively on the transaction by a Gleiss Lutz team led by Dr. Jörn Wöbke (partner, Hamburg) and Dr. Michael Burian (partner, Stuttgart, both corporate/M&A). The team was made up of the following lawyers: Dr. Daniel Heck, Dr. Nadja Al-Wraikat (both Hamburg), Dr. Martin Lembke (counsel, Stuttgart, all corporate/M&A), Dr. Helge Kortz (partner), Dr. Jan-Alexander Lange (both Frankfurt, finance), Dr. Matthias Tresselt (partner, Stuttgart) and Dr. Alexander Nagel (Düsseldorf, both restructuring).