“Negotiations between the Romanian state and the strategic investor interested in the DMHI Mangalia Shipyard have been finalized. The shipyard 2 Mai S.A Mangalia will renounce its preference rights on the shares held by Daewoo Shipbuilding&Marine Engineering in Daewoo Mangalia Heavy Industries S.A. Mangalia, and Damen Shipyards Group will cede a 2% stake to 2 Mai S.A. so the shareholding structure of the resulting joint-venture is: 51% – 2 Mai S.A. Shipyard, 49% – Damen Shipyards Group,” the ministry said.
In November 2017, Romania’s antitrust body cleared the acquisition of a 51% in the Mangalia shipyard by Dutch BV Holding Maatschappij Damen from South Korean group Daewoo.
The Romanian state is currently a minority shareholder in the shipyard, with 49%.
Romania’s prime minister in January said the government wanted to exercise its preemption right to a 51% stake held by South Korean group Daewoo in the Mangalia shipyard, essentially blocking the sale to Damen.
The shipyard was established in 1997 as a joint-venture with the Romanian government and is located 45 kilometers south of Constanta on the Black Sea coast.