FRANKFURT, Nov 14 (Reuters) – The German government and the state of Lower Saxony are close to a deal that would allow the Geneva-based shipping company MSC to buy about 80% of the shares in the German shipbuilder Meyer Werft, according to a report by Spiegel magazine.
This stake originates from a government rescue in late 2024, when the federal government and Lower Saxony each acquired around 40% of shares and invested a total of €400 million ($441 million).
Germany's economy ministry has stated that it will not comment on current negotiations. MSC and Meyer Werft, located in Papenburg, Lower Saxony, have not responded to requests for comments. The Meyer family could not be reached for a statement.
According to Spiegel, the Meyer family, which founded the company in 1795 and currently holds the remaining 20% of shares, is working with MSC to create a plan for joint ownership that could allow the family to increase its stake.
The report indicated that a deal might be signed next Tuesday, although it did not clarify the sources of this information.
A family spokesperson mentioned that talks have been "very constructive" among all parties involved.
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