Simpson Thacher Represents Marathon Acquisition Corp. in Acquisition of Global Ship Lease, Inc.
04.03.08
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Simpson Thacher is representing Marathon Acquisition Corp., a special purpose acquisition company (SPAC), in its announced acquisition of Global Ship Lease, Inc., a containership charter owner that is currently a subsidiary of CMA CGM S.A. of France, the world’s third largest container shipping company.
The transaction values Global Ship Lease at approximately $1.0 billion and, upon closing of the transaction, Marathon’s stockholders will own approximately 66% of Global Ship Lease and CMA CGM will own approximately 34%. The transaction is expected to close in the third quarter.
The Simpson Thacher team includes Gary Sellers, Ed Chung, Jacob Kleinman, Simone Bono, Dana Cicerani, Beatrice Branch and Ejim Achi (Corporate); George Miller (Credit); and Jonathan Cantor and Peter Rosen (Tax).