Damen Shipyards of the Netherlands has won Vietnamese government approval to buy 70% of Song Cam Shipbuilding, according to domestic media.
The yard is owned by the country's Shipbuilding Industry Corporation (SBIC).
Current rules impose a 49% limit on foreign investors' ownership of Vietnamese companies.
Damen already has deep links with SBIC as a 70% joint-venture partner in the new, $65.7m Damen Song Cam Shipyard in Haiphong.
The
