Five Confirmed Offers for Sietas Group Companies

(Press Release)
Tuesday, May 22, 2012

Five concrete offers have been received for the companies of the Hamburg-based Sietas Group. This is the result of the second phase of the extensive search for investors by the receiver of the Sietas shipyard, Berthold Brinkmann. During the first phase, a number of potential investors were approached by HSH Corporate Finance, which had been commissioned with the task, and interested parties were asked to submit indicative offers. During the second phase, these offers were to be put into more concrete terms and confirmed after an in-depth due diligence assessment.
Receiver Berthold Brinkmann commented as follows: “The five binding offers that we have meanwhile received for the Sietas Group companies include both an overall solution as well as the acquisition of individual companies. I am optimistic that we will be able to find a solution for all three companies – Sietas shipyard, Neuenfelder Maschinenfabrik NMF and Norderwerft.“
The receiver informed the board of creditors about the confirmed bids today. The five bidders from Germany, Europe and overseas are mostly strategic investors, i.e. companies from the shipbuilding industry.
In the final assessment of the offers, receiver Berthold Brinkmann will not only consider the purchase price, but also the preservation of as many jobs as possible.
In the next phase, the bids will now be examined thoroughly. Whether or not the Sietas Group companies will be sold to one or more bidders is to be decided in accordance with the board of creditors over the coming weeks.
Three bindingly ordered vessels are currently under construction at the Sietas shipyard: a RoPax ferry schedule for delivery in May 2012, a suction dredger scheduled for delivery in August 2012 and the first offshore wind farm transport and installation vessel to be designed and constructed in Germany, whose keel laying is scheduled for July 2012 (delivery in 2013).
 

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.

Russia Ships First Oil From Offshore Arctic Platform

President Vladimir Putin hailed Russia's first shipment of Arctic offshore oil on Friday, saying the platform decried by environmentalists will help Moscow expand its global energy markets share.

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Finance

India's Reliance Q4 Sales Rise

Indian energy company Reliance Industries Ltd posted nearly flat fourth-quarter profits, in line with estimates, as a slimmer margin in its oilrefining business offset higher revenue.

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.

New sanctions threats as Ukraine stalemate goes on

A day after an international deal in Geneva to defuse the East-West crisis in Ukraine, pro-Russian separatists vowed not to end their occupation of public buildings

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Pipelines Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1122 sec (9 req/sec)