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Flensburger Schiffbau-Gesellschaft (FSG) has new owners. Together with Orlando Management GmbH, Munich, and other investors FSG director Peter Sierk has acquired shares in FSG by way of a management buy-out (MBO). Led by Dr Heike Wagner, partner in Frankfurt, a team of lawyers acted on behalf of the seller Lübeck shipping company Egon Oldendorff oHG.
The transaction should be completed by the end of December 2008. FSG has been owned by Egon Oldendorff oHG, Lübeck, since March 1990. The new owners have assumed FSG in its present form retaining the scope of business. FSG will still be managed as an independent shipyard in future.
With its 700 employees and an annual turnover of about EUR 250 million the Flensburg shipyard is global leader in the construction of ro-ro freight ferries, i.e. "roll-on roll-off" ferries for trucks and trailers and for cars and passengers. Its order books are full until 2013.
Advisers CMS Hasche Sigle:
Dr Heike Wagner (Frankfurt) – Corporate, M&A (Lead Partner)
Till Liebau (Frankfurt) – Corporate, M&A
Dr Marc Riede (Hamburg) - Banking
Contact:
Dr Heike Wagner
Tel.: +49 (0) 69 71 70 13 22
E-mail:
Heike.Wagner@cms-hs.com
