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Finland: Shipbuilder agrees to shipyard buyout

By  |  August 5, 2014

Germany-based shipbuilder Meyer Werft has reportedly reached an agreement with the Finnish government to acquire the STX Finland shipyard.

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    The shipyard will now be known as the Meyer Turku Shipyard Oy and will house two new cruise ship orders from TUI Cruises, based in Germany, reports say.

    While Finland declined to disclose financial details of the transaction, Meyer will reportedly take a 70 percent stake in the shipyard and take control of its operations. Finland will retain the remaining 30 percent.

    Antitrust authorities must clear the transaction before it is finalized.

    Full content: Marine Log

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