The Ritz-Carlton Yacht Collection is leading a rescue plan for Spain’s biggest privately owned shipyard.
Ritz-Carlton’s fledgling cruise subsidiary has teamed up with majority shareholders of Astilleros Hijos de J Barreras to enable the yard to proceed with restructuring and complete work on the hotelier’s inaugural cruiseship.
Cruise Yacht Upper Holdco Ltd (CYUHL), a Maltese entity controlled by Ritz-Carlton that is also the yard’s main client, has teamed up with two shareholders that own more than 75% of the financially struggling shipbuilder.
