N
Navantia UK
Acquirer counsel
Acquirer counsel not yet recorded
Rainmaker
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Greenberg Traurig advises Harland & Wolff on $88.9 million sale to Navantia UK
Deal Overview
- Value
- $88.9m
- Deal type
- M&A
- Structure
- Data in progress
- Status
- Data in progress
Advisors
ACQUIRER
H
Harland & Wolff
Seller counsel
Greenberg Traurig LLP
Individual advisers not yet recorded
Greenberg Traurig LLP Overview
- Harland & Wolff is the historic shipbuilder behind the construction of the Titanic. In this transaction, Navantia UK is taking over Harland & Wolff's four operating yards in Belfast, Appledore, Methil and Arnish.
- The deal is a pre-pack administration sale to Navantia UK valued at approximately GBP 70 million. It is a government-backed rescue transaction.
- The transaction is expected to preserve more than 1,000 British jobs, with all current employees transferring to Navantia UK on existing terms and conditions. It also keeps the Fleet Solid Support program in place, with the three Royal Fleet Auxiliary ships to be built at Belfast and Appledore alongside Navantia's facilities in Spain.