By William Wilkes and Eyk Henning
Sep 20, 2026 (Bloomberg) — MSC Mediterranean Shipping Co. is currently negotiating to buy around 80% of Meyer Werft GmbH, a German cruise ship builder. This stake is owned by the federal government and the state of Lower Saxony, according to sources familiar with the negotiations.
These discussions are still in progress, and other potential buyers may come forward. The sources, who wished to remain anonymous due to the private nature of the talks, indicated that no final agreement has been reached and discussions could potentially break down. If a sale goes through, it would involve shipyards located in Papenburg, near the Dutch border, and the port of Rostock on the Baltic Sea.
Officials from the government are reluctant to sell at a loss, as their combined investment amounts to €400 million ($459 million), according to two of the sources. Representatives from Lower Saxony and the German government have chosen not to make any comments. MSC has not responded to requests for comment, and Meyer Werft also declined to comment.
If the sale is completed, it would put the historic shipyard, which has been in operation for over 230 years, back in private hands. The two governments had previously intervened to help the shipyard, providing €400 million and extending credit of €2.6 billion in 2024 after the shipbuilder faced financial difficulties during the Covid-19 pandemic, when banks started doubting its creditworthiness.
The cruise ship building industry is currently experiencing a turnaround, with high demand for construction capacity concentrated among a few European shipyards.
MSC Cruises is Meyer Werft’s biggest client, having signed a preliminary deal last year for four next-generation cruise ships, with options for two more. This agreement could be worth up to €10 billion. The ships are set to be delivered annually starting in 2030, which is expected to keep the Papenburg yard busy until 2035.
The shipbuilder also has long-standing relationships with other major clients, including Carnival Corp. and Royal Caribbean Cruises Ltd.
Meyer Werft is a vital employer in Lower Saxony, making its ownership crucial for the area's economy. The company employs about 5,000 people directly, and more than 20,000 additional jobs in the region are connected to Meyer Werft and its suppliers, according to the shipyard.