Longterm strategic agreement

Following the acquisition of Nobiskrug Shipyard in Rendsburg, Germany, the envisaged partnership is a further step for Abu Dhabi MAR Group towards creating a world leader in naval and mega-yacht building.

The strategic partnership involves the formation of a 50:50 joint venture,
Blohm + Voss Naval, for the design and manufacturing of naval surface ships (frigates, corvettes and offshore patrol vessels).

It also involves Abu Dhabi MAR Group owning a majority stake of 80% in the mega yacht business and in each of the companies “Blohm + Voss Shipyards”, “Blohm + Voss Repair” and “Blohm + Voss Industries”.

The transaction is subject to the approval of the supervisory bodies of both groups. For the naval side, the transaction is subject to disclosure requirements under the German Foreign Trade and Payments Act (AWG).