Tersan Shipyard

Tersan Shipyard finalizes takeover of Norway’s Havyard Leirvik

Turkish shipbuilding company Tersan Shipyard, part of Tersan Group, has completed the acquisition of Havyard Leirvik Shipyard, one of the group companies of Eqva ASA in Norway.

Tersan Shipyard

The acquisition, completed on November 20, is expected to strengthen Tersan Shipyard’s position both in Northern Europe and in the global shipbuilding industry.

Under the share sale deal worth NOK 30 million ($2.8 million), Eqva is selling its shares (100%) in Havyard Leirvik Holding AS, where the subsidiaries Havyard Leirvik and Havyard Leirvik Eiendom are included.

As explained, the strategic move will enable both yards to combine their expertise, know-how, customer portfolio and provide more attractive services for the building of a wider range of high-quality vessels, after-sales services, and general ship maintenance activities.

“We are very excited to announce the acquisition of Havyard Leirvik Shipyard,” Ahmet T. Paksu, the vice chairman of the board of Tersan Shipyard, commented.

“We believe that the acquisition of Havyard Leirvik Shipyard is a significant step forward for Tersan Shipyard. We have already been collaborating with Havyard Leirvik on project base cases, although such collaboration had been only to some extent it has always worked well and showed promising signs for a potential more expanded partnership.

By combining our expertise and resources with those of Havyard Leirvik Shipyard, we are confident that we will be able to achieve our long-term goals and strengthen our position in the global shipbuilding industry.”

“We are looking forward to becoming part of Tersan Shipyard. It is a highly reputable company with a good standing in international shipping and maritime circles, and with a clear ambition to further strengthen its position in Northern Europe with Havyard Leirvik as steppingstone,” Tor Leif Mogstad, CEO of Havyard Leirvik, said.

The acquisition, separately announced by Eqva on November 13, will enable the Norwegian company to free up resources necessary for investments in industrial service companies that contribute to the green transition in maritime, power intensive and renewable industries.