the Genting group signs agreements in order to buy the German ship yard Lloyd Werft Bremerhaven



The Genting group di Hong Kong, through the investment trust indirectly integrally controlled Star Cruises Singapore Holding Investment, has signed an agreement with the Germans Petram Beteiligungs, Ehlerding Beteiligungs and BLG Logistics Group in order to buy 70% of the capital stock of Lloyd Werft Bremerhaven (LWB), shipbuilding society of naval of Bremerhaven that takes care of the construction, conversion and repair of ships, and 50% of the capital stock of Lloyd Investitions - und Verwaltungs (LIV), controlling society of LWB that work essentially in real estate field. The total quotas will pass of hand for 17,5 million euros, of which 55% for the acquisition of the quotas LIV and 45% for the acquisition of the quotas the LWB.

In particular, Petram has agreed the cession of 0.2% of the capital of LIV and of 20.2% of that of the LWB, Ehlerding it has agreed the sale of 36.64% of the capital of LIV and 36.64% of the LWB, while BLG will yield 13.16% of LIV and 13.16% of the LWB.

Moreover the Genting group has tightened with Petram an option agreement based on which, between the date of completion of the acquisition of the quotas the Petram and on December 31, 2017, the group of Hong Kong will be able to acquire from the German society remaining its participation in LIV, that it is pairs to about 50% of the capital stock, and its remaining participation in the LWB, that it is pairs to about 30% of the capital stock, for a total purchase price pairs to about 16,5 million euros. The understanding previews that Petram, within six months from the completion of the first transaction, can ask the group of Hong Kong to acquire the being remained quotas LIV and LWB in possession of the German company.

We remember that the Genting group work also in the crocieristico field through the companies integrally controlled Star Cruises and Crystal Cruises and through a participation in the company Norwegian Cruise Line (NLC).

"This - it has emphasized today Carsten J. Haake, member of the board of directors of Lloyd Werft Bremerhaven - is a fantastic day for Lloyd Werft, for its staff, the companies partner and for the entire region since, with Genting as shareholder and its controlled Crystal who is candidated to order oceanic and fluvial cruise ships, the future of our ship yard seems very positive and promising".