Friday 17 September 2010

Abu Dhabi Mar to take control of Greek shipyard - Business Intelligence Middle East - bi-me.com - News, analysis, reports

Greece has clinched a deal to transfer German ThyssenKrupp's 75.1% stake in Hellenic Shipyards (HSY) to shipbuilder Abu Dhabi MAR group (ADM), the Defence Ministry said on Thursday.

"After tough and painful negotiations that on occasion reached the limit of failure, the negotiating teams today initialled the deal," the ministry said in a statement.

The ministry did not disclose the terms of the contract.

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