Meyer Werft and Finnish Industry Investment
Acquisition of Meyer Turku Oy
We acted as the buyer’s legal advisor in a transaction that involved the acquisition of 100% of the shares in Meyer Turku Oy, formerly STX Finland Oy, from STX Europe AS which is part of the group of international shipbuilding companies owned by the South Korean STX Corporation. In addition to Castrén & Snellman, numerous other professional advisors representing different fields and jurisdictions were involved in the various parts and stages of this highly complex transaction project.
Meyer Turku Oy is an international shipbuilding company specialised in technologically demanding shipbuilding projects, including the M/S Oasis of the Seas and the M/S Allure of the Seas, Finland’s largest export products and the world’s largest and most innovative cruise ships. These ships were developed and designed at and delivered from the company’s Turku shipyard in 2009 and 2010, respectively.
The share purchase agreement regarding the transaction was signed on 24 July 2014, and the transaction was completed on 19 September 2014 after merger clearance from the competition authorities. The successful completion of the transaction is an excellent example of the benefits that our clients gain from the combination of our long-term experience in demanding cross-border transactions and our expertise in a wide range of specialised facets of business law.