Asian group Genting has completed its takeover of German shipyard Lloyd Werft, but has bought itself more time to order ships negotiated as part of the deal.
The purchase was announced in September, with Genting investing EUR 17.5m ($20m) for 50% ownership of the land and 70% of the newbuild business.
However, the sellers, Ehlerding Beteiligung and BLG Logistics Group, had the right to re-transfer the shares if Genting did not place ship orders worth at least EUR 550m by 31 December.
This
