MSC in talks to take 80% stake in German shipyard Meyer Werft

Geneva-based shipping group MSC is close to finalizing an agreement with the German government and the federal state of Lower Saxony to acquire approximately 80% of the shares of German shipyard Meyer Werft, according to Spiegel magazine. The deal would involve the majority stake both administrations obtained following the state bailout carried out in late 2024.

In that bailout, the federal government and Lower Saxony each acquired around 40% of the company's capital, after jointly injecting 400 million euros, equivalent to 441 million dollars at the exchange rate cited by Reuters. Germany's Ministry of Economic Affairs declined to comment on the ongoing negotiations, while MSC and Meyer Werft, headquartered in Papenburg, Lower Saxony, did not immediately respond to requests for comment.

The Meyer family, which founded the company in 1795 and owns the remaining 20% of the shares, is working together with MSC on a joint ownership arrangement that would allow the family to increase its stake in the shipyard. A spokesperson for the founders said talks with all parties involved are "very constructive."

According to Spiegel, which did not specify its sources, the agreement between the parties would be signed next Tuesday. Both GCaptain, which picked up the Reuters report, and Portal Portuario reported the information on successive days.