Paul Lowe, a partner in the corporate team of Acuity Legal, assisted by Jon Lawley and Claire Knowles, has recently advised Graig Shipping PLC on the sale of its subsidiary Graig Ship Management to the international marine services business, V Group Limited. Graig Ship Management has a reputation for high quality new build supervision and ship management of dry bulk vessels. This reputation, which has its roots as part of Graig Shipping PLC’s 100 year history and is supported by a global maritime workforce, has grown steadily over the past 25 years despite market challenges.
Acuity Legal provided the legal advice in helping to structure the transaction and in drafting various legal agreements. Acuity Legal also provided support in dealing with the international issues raised by the transaction. In particular, working closely with Chinese counsel, Acuity Legal dealt with the transfer of its China based employees and various matters which were governed by Chinese law as well as providing commercial advice in relation to the establishment of a complementary partnership with V Group to provide an integrated service covering investment, ownership, ship management and supervision.
The transaction will now allow Graig Shipping PLC to focus on its core activities where it has strategic leadership including developing, financing, and executing innovative shipping investment opportunities and structures independently and through collaboration.
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