Simpson Thacher is representing affiliates of KKR in connection with the sale of Ocean Yield AS (“Ocean Yield”), a leading global ship leasing platform, to A.P. Møller Holding A/S. Completion of the transaction is subject to customary regulatory approvals.
Headquartered in Oslo, Norway, Ocean Yield holds interests in over 70 modern vessels, across several core shipping sectors, including gas carriers, container ships, LNG carriers, crude, product and chemical tankers, and dry bulk carriers. Under KKR’s ownership, Ocean Yield has invested more than $3 billion to further expand the existing portfolio, diversify and broaden its investment-grade customer base, and has nearly doubled its long-term contracted backlog to more than $5 billion.
KKR will continue to be a strategic partner to Ocean Yield through their joint investment in CapeOmega Gas Transportation AS.
The Simpson Thacher team includes Jiaying Zhang, Ciaran Cronin, Carolina Centeno, Spandan Das and Alexandra Gaynor (Corporate); Meredith Jones and Max Toubiana (Tax); and Etienne Renaudeau (Antitrust).
Simpson Thacher worked alongside BAHR, a leading Norwegian law firm.