April 14, 2011 - Assignment

Stena Bulk enters into joint venture with Dannebrog Rederi

Stena Bulk has entered into a joint venture with the Danish shipping company Dannebrog Rederi and acquired 50 percent of the shares in Stena Weco. Stena Weco will operate the Weco Shipping product tanker business previously held by Dannebrog Rederi and will initially have a fleet of approximately 30 product tankers. Stena Bulk will contribute its extensive experience of tanker operations and resources to Stena Weco.

Stena Bulk, one of the world’s leading tanker shipping companies, has a fleet of approximately 80 tankers and is also responsible for the marketing and operation of Concordia Maritime’s fleet of vessels. Stena Bulk is part of the Stena Sphere, a group of companies with more than 19,000 employees and a turnover of approximately SEK 50 billion.

Stena Bulk was advised by Mannheimer Swartling on the transaction. The firm’s team was led by Johan Ljungberg, primarily assisted by Hanne Aarsheim, Emma Olnäs Fors and Thony Lindström. Stefan Perván Lindeborg and Jürgen Busch, primarily assisted by Urszula Sieradzka, Meike Johnsen and Alexander von Kleist, advised on competition law matters.