UAE-based yacht builder Abu Dhabi MAR has acquired a controlling interest in the Nobiskrug Shipyard in Germany.

The shipyard is owned by Eagle River Deutschland, which specialises in building luxury yachts.

With a turnover of around €100m, the yard has launched more than 700 vessels and has five large yachts under construction.

The company has not revealed the value of the deal, reports khaleejtimes.com.