Local media said the deal would take place on 1 June after the state government approved the sale.

Liquidator Berthold Brinkmann called the move “the right decision.”

No price has been disclosed.

Nordic, which already operates two German shipyards, is owned by Russian Vitaly Yusofov.

P+S has already sold its Wolgast Peene yard to Germany’s Lurssen group, but Stralsund has proved more difficult to shift.

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