The Romanian state has struck a deal with Damen Shipyards to take back control of Daewoo Mangalia Heavy Industries (DMHI).
It will own 51%, with Damen taking 49%.
The Dutch shipbuilding group had agreed a deal last year to acquire 51% of the Mangalia shipyard from Korea's DSME for KRW 29bn ($25.9m).
But the transaction was blocked by the Romanian government — which controls the other 49% of DMHI — and which had a pre-emptive right to buy the majority holding.
