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Daewoo Shipbuilding & Marine Engineering Co. said Tuesday it has been holding negotiations with Romania over the sale of Mangalia Shipyard, country’s largest shipyard, yonhapnews.co.kr informs.
“Romania’s state-owned company 2 Mai S.A. Mangalia shipyard informed the major South Korean shipbuilder on January 5 about its intention to exercise its preemption rights over the Daewoo Shipyard in Mangalia,” Daewoo Shipbuilding said, the source also notes.
The Ministry of Economy currently holds, through the 2 Mai S.A. Mangalia shipyard 49 percent of the Daewoo Mangalia shares, and the Koreans hold 51 percent.
Daewoo Shipbuilding said its negotiations with 2 Mai Mangalia shipyard are under way to close the deal. The company did not provide details.
Recently, the Gov’t promoted a memorandum reading that the Romanian state wants to exercise its pre-emptive right over the 51 percent stake in Mangalia Shipyard that the Koreans of Daewoo Shipbuilding & Marine Engineering want to sell.
The problem is that this pre-emption right is exercised at a time of full negotiations between the Koreans and the Dutch owning the Damen Shipyards Group, the largest shipbuilder in the Netherlands
Former Romanian Prime Minister Mihai Tudose said Romania needs the Mangalia Shipyard as a state shipyard and the country must have the capacity to produce and ensure maintenance for ships.
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