Finnish Company Exits Masa-Yards Negotiations

The Finnish group bidding for Kvaerner's Masa-Yards shipyards has decided to halt negotiations on the sale, due Carnival Corp.'s decision not to take part in the bid. The Finnish group originally planned to take a 25 percent stake in the Finnish shipyards, while Carnival and Royal Caribbean were expected to buy a 25 percent stake, but Carnival decided in March not to take part in the sale. Polish Gdynia shipyard is not withdrawing its bid, and the timetable for talks with Kvaerner is still open, officials said.