Reuben Brothers acquire Italian shipowner assets
RB|RD Armatori, a company controlled by Reuben Brothers with the joint venture participation of Rizzo and De Carlini families, has completed the takeover of Italian shipowner RBD Armatori.
The transaction was a composition plan (Concordato Fallimetare) under Italian bankruptcy law and was executed under the supervision and approval of the Court of Torre Annunziata (Naples). RB|RD’s proposal was seen by all the stakeholders, including but not limited to creditors and employees, to be the best possible outcome.
RB|RD has taken over seven dry bulk carriers and one tanker, which account for the majority of the RBD fleet. The remaining five tankers were assigned to a major creditor controlled by Pillarstone. RB|RB will have its headquarters in the Naples region and the business will be part of and integrated into the wider Reuben Brothers organization.
Reuben Brothers has deep expertise in the dry bulk and non-ferrous commodity markets. The wider group includes two shipping subsidiaries, RB Shipping, which operates seven modern Kamsarmax dry-bulk vessels, and RB British Marine, a dry bulk-focused ship management joint venture with British Marine.
RB|RD has also taken over the rest of the assets of RBD. RB|RD was assisted by a team of Italian and international lawyers leaded by Gianni Origoni Grippo Cappelli & Partners (GOP).
LATEST PRESS RELEASES
The subject of condition monitoring has been on everyone’s lips for the past few years, especially a... Read more
IMO 2020: TOTAL LUBMARINE’S TALUSIA UNIVERSAL GIVEN GREEN LIGHT BY MAN ENERGY SOLUTIONS FOR VERY LOW SULFUR FUELS
With the new emissions standards designed to curb pollution from ships by the International Maritime... Read more
Infineum, one of the world leaders in the formulation, manufacture and marketing of petroleum additi... Read more
HSN-Kikai Kogyo Co. Ltd (Also known as Heishin Pump Works) announce it’s 90th anniversary of trading.
HSN-Kikai Kogyo Co. Ltd (Also known as Heishin Pump Works) announce it’s 90th anniversary of trading... Read more
Flameless venting technology protects the exhaust system of the ship engine Read more