MPC Oceanic Group AG has signed an agreement to purchase 41% of the shares of Marlow Navigation Co. Ltd. (Marlow). This transaction is designed to allow the current shareholders of Marlow to retain majority ownership, and as part of this deal, it allows Marlow shareholders to become significant shareholders in MPC Oceanic Group.
Details of Marlow Navigation
Marlow is a leading provider of ship management services, particularly specializing in crew management and training of seafarers. The group employs over 1,300 professionals in 13 countries and provides crew management services for over 1,150 vessels operating globally, with more than 16,000 crew members serving on board at any given time. In 2025, Marlow generated revenue of approximately 560 million US dollars.
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Purchase Amount and Terms
The purchase amount for 41% of Marlow's shares is estimated to be around 126 million dollars, which includes a cash component valued at approximately 97 million dollars and the issuance of new shares of MPC Oceanic Group worth about 29 million dollars for Marlow shareholders as part of a capital increase against tangible contributions.
As part of the capital increase against tangible contributions, new shares will be issued from authorized capital at an issuance price of 7.00 euros per share. After the completion of the capital increase, Marlow shareholders are expected to hold approximately 9% of MPC Oceanic Group. Additionally, it will be proposed that at the next annual general meeting, a representative from the current shareholders of Marlow be appointed to the supervisory board of MPC Oceanic Group.
One-third of the cash component will be funded from available cash resources, and the remaining two-thirds will be financed through debt financing.
The completion of this transaction is subject to regulatory and antitrust approvals and other customary closing conditions and is expected to be finalized in early 2027.
Agreements between shareholders include certain provisions for MPC Oceanic Group as a minority shareholder regarding governance, information rights and share transfer, financing, buyback rights, and share transfer restrictions.
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