Damen Shipyards Group completes negotiations with the Romanian Government on the Mangalia shipyard
Negotiations between Damen Shipyards Group and the Romanian Government on the Mangalia shipyard were completed on March 21.
Currently Daewoo Shipbuilding & Marine Engineering (DSME) owns 51% of the shares in the yard. On November 10, 2017, Damen signed a share purchase agreement for the acquisition of DSME’s shareholding in DMHI, subject to the Romanian Government’s pre-emption right.
Following productive and conclusive negotiations on long-term strategic partnership with senior officials of the Romanian Government, the waiver of the pre-emption right is expected to be made public by the end of March. Subsequently, the successful completion of the transaction is expected shortly thereafter.