The Swiss Maritime Investment company has become the majority owner of the NCP Repair Shipyard Sibenik. The Swiss firm paid off debts of HRK1m (US$159,000) that the shipyard owed to Jadranska Banka, according to a story in TotalCroatiaNews.com.

The government agency overseeing the sale said that it would not disclose the exact names of the buyers. According to the website, the Swiss Maritime Investment company is comprised of investors from Denmark, the USA and Switzerland who are involved in the marine industry. The Dogus Group, a Turkish firm, had earlier expressed interest in the shipyard, but the deal had fallen through.

The Swiss Maritime Investment company first submitted a bid in April and then signed the final agreement in July.

Milan Barisa Obradovic, the bankruptcy trustee, said that the Switzerland-based company would now have “the most votes at the table” as the majority shareholder. The new owners will own between 60% and 70% of the company. The trustee had announced a restructuring plan for NCP earlier this year.

The new owners said they plan to keep the waterfront refit yard intact, which includes machinery and building sheds on about 160,000 sqm of property.