Det Norske Veritas Assumes Full Ownership of DNV GL
- Business & Finance
Stiftelsen Det Norske Veritas (The Foundation) and Mayfair announced the sale of Mayfair’s 36.5% shares in DNV GL Group to DNV Holding.
“We are proud to have been part of building a leading quality assurance and risk management company over the past eleven years. Since we invested in Germanischer Lloyd in 2006, the company has expanded its position, and through the merger with Det Norske Veritas became a world market leader in its industries. The integration is now complete. We thank the Foundation for the collaboration, and we wish DNV GL and its employees continued success,” said Günter Herz of Mayfair.
The Foundation sees assuming full ownership of DNV GL as the best investment to fulfill its purpose of safeguarding life, property and the environment and to realize its strategy.
“The merger between DNV and GL has created significant value, and we are thrilled about the opportunity to invest in DNV GL’s long term success. 100% of the cash generated will remain within the group to support further development and positioning of DNV GL globally. We thank Mayfair for its contributions to DNV GL over the past years,” said Leif-Arne Langøy, chairman of the board of directors of Stiftelsen Det Norske Veritas, and chairman of the board of directors of DNV GL.
The president and CEO of DNV GL Remi Eriksen said that this is a new chapter in DNV GL’s history. “Moving forward with one strong owner with a long-term view and a fully aligned purpose will be good for DNV GL’s customers and employees.”
There will be no changes to the management, organization, name or branding. DNV GL’s headquarters for the Maritime business area will remain in Hamburg.