Romania Insider has reported that Romania's Ministry of Economy is in advanced discussions with an investor to take over the Mangalia Shipyard. The move aims to sustain economic activity and ensure the continued payment of employee salaries, according to Minister Bogdan Ivan's recent announcement.
The Mangalia Shipyard, which is currently under insolvency, has a majority state ownership of 51%, while the private entity Damen Group holds a 49% stake. However, Damen Group has decided to withdraw from its management role and has initiated insolvency procedures.
Minister Ivan revealed that the potential investor intends to lease the assets and workforce of the shipyard. Negotiations are also in progress regarding the investor's complete takeover, which would include addressing existing debts to Damen Group.
The anticipated investor is expected to replace Damen Group as a shareholder, thereby providing a fresh start for the shipyard under new management and financial dynamics.