The European Commission has cleared Abu Dhabi MAR to buy the civil shipping business of German industrial firm ThyssenKrupp.
Under the agreement, ThyssenKrupp will sell Hamburg-based shipyard Blohm + Voss and the shipbuilding activities of Kiel-based HDW Gaarden.
Abu Dhabi MAR will also buy an 80% stake in the maintenance and servicing units of Blohm + Voss Repair and Blohm + Voss Industries.
The companies have also signed a deal to form a joint venture that will design and build naval surface ships such as frigates, corvettes and offshore patrol vessels.
Related
Related Companies
