Genting HK buys remaining stakes in Germany's LIV and LWB

Genting Hong Kong said it has exercised a call option to buy out the remaining shares it doesn’t already own in Lloyd Investitions and Lloyd Werft Bremerhaven.  

The purchase amounted to a further 50 percent of German letting and real estate company Lloyd Investitions and 30 percent of German shipyard Lloyd Werft Bremerhaven.

Genting said the acquisition will place the company in a better position to leverage on the technical know-how and expertise of the shipyard, allowing the company to expedite its business plans through timely and priority access to newbuilding slots at competitive pricing.

The company didn’t provide the purchase price, but said the terms of the exercise of the call option were determined following negotiations with seller Petram and take into account factors such as net asset value, technical know-how and the strategic and commercial value of the businesses.

 

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