Meyer has acquired full ownership of the Turku shipyard, acquiring the remaining 30 percent stake from the State of Finland.
When the German Meyer family and the Finnish State acquired Turku shipyard from STX Europe in September 2014. Meyer Werft took up 70 percent of the shares, and the State of Finland purchased 30 percent of the share capital through the Finnish Industry Investment Ltd (FII). As usual for the FII´s investment policy, it eventually exits from its investments. In the case of the Turku shipyard, it was agreed that Meyer had a call option to buy FII’s minority stake.
Commented Jan Meyer, CEO of Meyer Turku, in a prepared statement: “At the time of the purchase Meyer was only operating shipyards in Germany and therefore going to invest in Finland was a big and strategic step for us – which we carefully considered from different angles. Our well-coordinated acquisition with the Finnish Government made it possible for us to implement this strategic move, and I am sincerely grateful for the government for its valuable contribution. In general, I hope that our decision to buy all the shares is received as a sign of confidence that we can make Turku shipyard a long term shipbuilding success.”
“We are happy to see that the Turku shipyard is developing so positively. Our engagement was an investment in Finnish strengths – the shipyard and the strong maritime cluster. It is good to see that Meyer is sharing our confidence and further invests in the Turku shipyard. This benefits not only the yard but also the maritime supply and development infrastructure and Finland at large,” said Jan Vapaavuori, the Finnish Minister of Economic Affairs.
Meyer Turku has presently orders for four more cruise ships for TUI.