Abu Dhabi MAR to buy Hellenic Shipyards stake
Berlin, December 19, 2009
German steelmaker ThyssenKrupp said that shipbuilding group Abu Dhabi MAR is the preferred bidder to buy a majority stake in its indebted Greek shipbuilding unit Hellenic Shipyards (HSY).
'There were five offers and four did not fulfil the requirements,' a company spokeswoman said.
Thyssenkrupp decided to sell HSY earlier this year, after a dispute with the Greek government over a lifeline submarine building order left the dockyards strapped of cash.-Reuters