MSC nears deal for 80% stake in German shipbuilder Meyer Werft, Spiegel reports

Swiss shipping company MSC is reportedly nearing an agreement to acquire an estimated 80% stake in German shipbuilder Meyer Werft, according to German magazine Der Spiegel. The proposed transaction is expected to be finalized next week, as per the report. The deal is set to involve shares owned by the German federal government and the German state of Lower Saxony, which had jointly rescued the shipbuilder at the end of 2024.

Both entities had previously acquired stakes of approximately 40% each, investing a combined €400 million ($441 million) into the company's finances, as per the magazine.

The Meyer family, the original founders of the shipbuilding business which dates back to 1795, currently holds a 20% stake in Meyer Werft and is reportedly collaborating with MSC to establish a joint ownership structure. This arrangement would enable the Meyer family to increase their ownership percentage. An agreement could be signed as early as next Tuesday, although Spiegel did not disclose the sources of this information.

Meyer Werft, headquartered in Papenburg, Lower Saxony, is set to see its majority ownership transferred to MSC following the completion of the deal. A spokesperson for the Meyer family described the ongoing discussions with the involved parties as "very constructive," per the report.