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Russians acquire big German shipyard group

Following many months of back-and-forth negotiations, Russian shipyard group Nordic Yards has now acquired the bankrupt yard Volksverft in Stralsund, Germany.

After several previous attempts, the Russian yard group Nordic Yard has now managed to acquire German Volksverft in Stralsund from bankrupt P+S Werften. This happens after several months of back-and-forth negotiating, where Nordic Yards in early April repeated its offer of a EUR 15 million investment.

The deal has now finally been settled, reports German NDR.de, and the acquisition is expected completed by June 1st. The price of the transaction has not been made public, but Erwin Sellering of SPD and State Minister of Mecklenburg-Verpommern said, according to NDR.de, that the negotiations finished with a satisfying result.

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