Lürssen acquisition of Blohm+Voss approved
On Friday 28 October, the German Fair Trade Commission approved the acquisition of Blohm+Voss by the Bremen-based Lürssen shipyard…
On Friday 28 October, the German Fair Trade Commission approved the acquisition of Blohm+Voss by the Bremen-based Lürssen shipyard. In a press release issued today, Peter Lürssen, managing director of the family-owned company, outlined Lürssen’s desire to strengthen its superyacht refit and repair sector, as well as its various other commercial and naval new build commitments.
Prior to the acquisition being approved, Lürssen had not been able to review detailed information pertaining to Blohm+Voss’s internal structures and processes. The coming weeks will focus on exchanging information between the two companies and road mapping the most effective way to connect the two yards.
“With the decision from the German Fair Trade Commission, we are a major step closer to achieving our goal and we are now able to face future challenges of the difficult market environment together with Blohm+Voss,” explains Lürssen. “We now have the opportunity to gain a comprehensive insight into the existing shipyard structures and to instigate primary steps for our future cooperation.”
Following the signing of the purchase agreement at the end of September, the formal transfer of Blohm+Voss’s ownership from Star Capital, a British private equity investor, to Lürrsen Maritime Beteiligungen GmbH & Co. KG, will now begin in earnest.
“With the acquisition of Blohm+Voss we are taking over a shipyard with a strategically advantageous location and versatile production facilities. We want to use these facilities to complement our existing refit and repair activities and to offer our customers and even better service,” continues Lürssen. However, Lürssen remained noncommittal with regards the future production of superyachts at Blohm+Voss’s Hamburg shipyard. “The construction of yachts at the Hamburg yard will depend on the overall market situation and it is difficult to judge at this time.
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