If regulators sign off on the deal, Blohm + Voss will have a new majority owner by the end of the year.
ThyssenKrupp, which has been Blohm + Voss’ parent company for several years, announced today that it has agreed to sell an 80-percent stake in the superyacht yard to Abu Dhabi MAR Group. It’s part of a larger deal in which the two companies will additionally collaborate on naval ships.
That deal will see the formation of Blohm + Voss Naval, in which ThyssenKrupp and Abu Dhabi MAR Group will have equal rights. As for the megayacht projects, Abu Dhabi MAR Group will have the majority control over Blohm + Voss shipyards, Blohm + Voss repair, and Blohm + Voss industries.
This is the second Germany-based yard to be acquired by Abu Dhabi MAR Group. In July it purchased Nobiskrug. On a related note, it also recently acquired CMN in France and is converting two 400-foot-plus Dutch-built warships into superyachts at its Abu Dhabi-based facility.
The deal still needs to undergo review and approval from regulatory agencies, so I’ll keep tabs on developments.