Approval for a deal under which Abu Dhabi MAR (ADM) will take over civil shipbuilding activities — including superyacht construction — from ThyssenKrupp Marine Systems has been given clearance by the European Commission.

ThyssenKrupp and Abu Dhabi MAR have also agreed to establish a 50-50 joint venture to design and build naval surface ships.

The latest move will see ADM add significantly to its already expanding German superyacht building potential as it already now owns Nobiskrug and Blohm Voss. An 80 per cent stake is also due to be acquired by ADM in Blohm Voss Repair and Blohm Voss Industries which both carry out repair and maintenance work.


Superyacht Business / David Robinson, 1 September 2010