Genting Hong Kong, a leading global leisure, entertainment and hospitality enterprise, has entered into an agreement to acquire Lloyd Werft, a shipyard in Bremerhaven, Germany, in a deal that will see the company invest EUR17.5 million for a 50% ownership of the land and 70% of the new build business, Lloyd said in its press release.
Under the terms of the agreement, Genting Hong Kong will complete the acquisition of Lloyd Werft subject to the fulfilment of certain final purchase conditions.
Lloyd Werft board members Rüdiger Pallentin, Carsten J. Haake and Dirk Petersjohann deeply appreciate Genting’s decision to acquire Lloyd Werft and their future newbuilding plans to expand the Crystal cruise line.
In order to build and facilitate the cruise ships, a considerable investment program needs to be carried out on the yard premises.
The management gives thanks to former shareholders Ehlerding Beteiligung GmbH and BLG LOGISTICS GROUP AG & Co. KG and remaining shareholder Dieter Petram for the reliable support in developing Lloyd Werft over the past years.
Lloyd Werft was founded in 1857 and initially focused on the general ship repair business, moving into the conversion and newbuilding businesses in the 1970s. The yard, situated on 260,000 square metres and comprising of six docks and a 1,600 meter pier, has an impressive track record for newbuilding including cruise vessels for Norwegian Cruise Line including Pride of America, Norwegian Sky and Norwegian Sun, mega yachts such as the MY Luna, pipe-laying vessels and merchant ships. Lloyd Werft also completed the conversions of a number of vessels including the Queen Elizabeth 2 for Cunard Line.