The Blue Star Group structures the acquisition of the 9,400 TEU “MSC DESIRÉE” from the SinOceanic Group

This is a milestone investment project for the Blue Star Group which demonstrates that well-chosen shipping investments have an important role to play as part of attractive investment portfolios for institutional investors.

Christoph Geck-Schlich
Managing Director of the Blue Star Group

In a significant transaction between the Blue Star Group and the SinOceanic Group at the close of the year 2018, the ownership of the 9,400 TEU “MSC DESIRÉE” and the vessel’s long-term charter with MSC were transferred to the special-purpose offshore investment vehicle set up by the Blue Star group for its chosen investors.

The Blue Star Group, which is majority-owned by E.R. Group owner Erck Rickmers, was privileged to develop this project thanks to its long-standing business relationship with both SinOceanic and MSC.

LEBUHN & PUCHTA is proud to have acted for the Blue Star Group in this transaction. The L&P team was led by Edward (Ted) Maguin (partner, English solicitor and German Rechtsanwalt), assisted by Dr. Sarah Gahlen (associate, German Rechtsanwältin).

Shipping and offshore-related transactional work form part of LEBUHN & PUCHTA’s key areas of international activity. Ted commented: “This transaction involved specialist knowledge of the contracts which make up such a project, in particular under English law and German law. LEBUHN & PUCHTA has very extensive knowledge of these deals and I was delighted to have the privilege of acting for such a client as the Blue Star Group. Blue Star has impressive DNA and capability.

 

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