Benelux Consortium Eyes Stake in IHC

A consortium of marine companies and investors from around the Benelux is considering taking a stake in ailing shipbuilder Royal IHC, newspapers FD and De Tijd reported.

The FD cited banking sources as saying the consortium was led by Luxembourg-based investor Hal Trust, together with dredging firms DEME of Belgium and Van Oord of the Netherlands.

Privately-held IHC reported a loss of 80.6 million euros ($89.42 million) on sales of 942 million euros in 2018 and has been looking for fresh capital since the summer of 2019.

A spokesman for the company confirmed to the papers that the company is in talks with “a consortium” but declined to identify its members, according to Reuters.