Blohm&Voss yard changes hands in €150 million deal
by Malcolm MacLean
ThyssenKrupp has agreed to sell its Blohm&Voss yard to British private equity group Star Capital Partners in a deal reportedly worth €150 million.
The sale marks the latest step in ThyssenKrupp’s efforts to slim down its portfolio and in future the company will focus on naval vessels and submarines, in addition to its steelmaking, elevator, plant technology and components activities.
Renowned for building some of the world’s most notable superyachts, Blohm&Voss, recently delivered the largest-ever private yacht, the 162.5m Eclipse, to her Russian owner.
The deal covers Blohm&Voss Shipyards, Blohm&Voss Repair and Blohm&Voss Industries and their subsidiaries.
ThyssenKrupp originally planned to sell its civilian shipbuilding assets to Abu Dhabi MAR but the deal collapsed in July after political turmoil in the Middle East derailed a planned joint venture.