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Romania in Talks With Investor for Mangalia Shipyard Revival

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The Minister of Economy, Bogdan Ivan, disclosed in the Senate that Romania is engaged in late-stage talks with an investor who aims to acquire the Mangalia Shipyard. The purpose is to sustain economic activities and ensure workers receive their wages, as reported by him.
Ziarul Financiar
.

The Mangalia Shipyard has fallen into bankruptcy following the decision made by the Damen Group, which holds a 49% share (while the remaining 51%, representing the controlling interest, belongs to the government). The management, acting from their stance as creditors, opted to withdraw—initially relinquishing control over management operations before proceeding to declare the shipyard insolvent.

“For now, we are engaged in detailed discussions with a prospective investor who intends to lease both our assets and workforce. Our aim is clear, and we’re exploring various options, which may involve working alongside the judicial administrator since they are overseeing the company at present,” stated the minister.

The incoming investor will ultimately take over Damen’s shareholding position and will be responsible for negotiating the acquisition of the firm along with its liabilities to the Dutch entity, according to Minister Ivan.

iulian@romania-insider.com

(Photo source: Inquam Photos/Daniel

Stoenciu)

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