The Werften Group insolvency administrator has handed over the keys to its Wismar shipyard to German shipbuilding giant Meyer Werft managing owner Bernard Meyer.

Wismar Weft, a part of the giant German shipbuilding group Meyer Werft, has agreed to sublet the Mecklenburg-Vorpommern-based Wismar shipyard from its current owner Thyssenkrupp to complete a 208,000-gt state-of-the-art cruise ship for Disney.

Disney earlier came to an agreement with Meyer Weft to complete the ship after work was halted by the Werften Group’s insolvency.