Financial investor Lars Windhorst has thrown out a lifeline to the German shipyard by acquiring the majority of FSG.
Windhorst’s Sapinda Holding B.V. took over 76% of the shares, said previous owner, the Norwegian company Siem.
Some EUR 33 million of fresh equity will also be put by Windhorst’s holding into the yard.
In addition, Siem has issued FSG ten million in arrears, which were converted into new shares.
According to its own statements, Siem wants to remain an active shareholder with a majority in FSG’s advisory board.
As late as January, the FSG had difficulties paying their salaries to shipyard employees, including 650 full-time employees. The parent company Siem Industries finally had to step in.
The order books of the FSG are filled until 2021. In total, there are orders for seven ships with a contract volume of one billion euros.
With agency material
