Rheinmetall paid 138 million euros for the Mangalia Shipyard

The payment was made on Tuesday, November 9, following the award of the public auction held on October 9. According to CITR, this is the largest transaction ever completed in Romania involving a company in insolvency or bankruptcy.

Transfer of Ownership Subject to Approvals

The actual transfer of ownership will take place after all conditions stipulated in the sale process have been met, specifically after obtaining the permits, authorizations, and approvals required by law for transactions of such strategic importance.

CITR notes that this stage paves the way for the completion of the transfer and lays the groundwork for the revitalization of industrial activity at the Mangalia facility.

Rheinmetall and MSC will transform the shipyard into a dual-use facility

Rheinmetall and the Swiss shipping company MSC officially announced on October 19 that they will take over the Mangalia Shipyard after winning the bid organized by CITR. The two companies stated that the goal is to develop a dual-use production capacity for both civilian and military shipbuilding, organized into distinct sectors and security zones. “Through this acquisition, we plan a major expansion and modernization of the shipyard,” said Tim Wagner, CEO of the Naval Systems division. The shipyard will play a key role in the construction of the four military vessels contracted by the Romanian government and will serve as a hub for other military naval projects.

The Competition Council confirmed exclusively to Mediafax that Rheinmetall has notified the Commission for the Examination of Direct Investments (CEID). The transaction requires the mandatory approvals of both the CEID and the Competition Council.