The civilian shipbuilding business of Blohm + Voss, which is part of the German engineering group Thyssen Krupp, has been sold to British private equity company Star Capital, the Reuters news agency reports.
"The Marine Systems supervisory board approved this today," one of the two people told Reuters on Friday. Star Capital declined to comment. The assets up for sale include three civilian shipbuilding units -- yacht-builder Blohm + Voss Shipyards, ship repair unit Blohm + Voss Repair and components maker Blohm + Voss Industries,” the report said. The naval shipbuilding activity is the company is not part of the deal.
The Blohm + Voss repair yard in Hamburg has recently refurbished Cunard Line’s Queen Mary 2 and P&O Cruises’ Oriana. Both companies are part of the Carnival Corp & plc group. The company is also a well known builder of megayachts.
Star Capital says on its website that it invests in capital intensive sectors in Western Europe, with focus on companies that have an enterprise value between €100 million and €1 billion and are strategically positioned in their areas of business.