Greece accepts Abu Dhabi MAR shipyard offer

Greece said yesterday it has approved Abu Dhabi MAR's (ADM) offer for ThyssenKrupp-owned Hellenic Shipyards (HSY), the press ministry said.

"The new joint scheme will be led by ADM, which will hold 75.1 per cent of the share capital of Skaramanga shipyard, with ThyssenKrupp Marine Systems participating with 24.9 per cent. The scheme is fully approved by the Greek Government," the ministry said in a statement.

In January, ThyssenKrupp picked shipbuilding group Abu Dhabi MAR as the preferred bidder to buy a majority stake in its indebted Greek shipbuilding unit HSY, the largest shipyard in the Mediterranean. Talks with the Greek Government on conclusion of the deal are expected to be completed as soon as possible, the statement said.

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