HPP assisted Neste Oil on a transaction, in which Neste Oil and Norwegian-based OSM Group AS agreed on a business transfer of ship management functions of Neste Shipping to OSM. The outsourcing of ship management functions is part of Neste Oil’s plan to exit the shipping business announced on 19 September 2013.
Under the agreement, OSM will set up a subsidiary in Finland responsible for the crewing and maintenance of vessels previously under the management by Neste Shipping that continue to be used by Neste Oil. The intention is to transfer the shore and seagoing personnel currently employed by Neste Shipping’s ship management functions to OSM’s new Finnish subsidiary during spring 2014.
OSM is a global provider of offshore and ship management services.
The HPP team was led by partner Björn Nykvist. Other key members of the team include partner Nora Gahmberg-Hisinger as well as senior associate Iiro Lähdevuori and associate Teresa Kauppila.
More information can be found in Neste Oil’s press release.
