Judge authorizes Abu Dhabi Port and Premier Marine to buy Balenciaga shipyard
If the transaction is carried out, the Zumaia company may terminate the creditor competition in force since 2024.
The Commercial Court No. 1 of Donostia-San Sebastián has authorized the consortium of companies in the transport sector Abu Dhabi Port Group and Premiere Marine to purchase the production unit of the Balenciaga shipyard.
The operation has been agreed for EUR 11.2 millionand would make it possible to terminate the creditor competitionthat has been in force at the Zumaia company since the end of 2024.
According to the judge's order, Safeen Drydock's offer (the name of the Abu Dhabi Port and Premiere Marine consortium) is best suited to the satisfaction of creditors, the preservation of business activity and the maintenance of employment, among other things.
The trading proposal has been negotiated discreetly since the beginning of the year.
The Basque Government welcomes the news, but calls for caution until the purchase is completed.
The Councillor, Mikel Jauregi, has stated that if carried out, "it would bevery good news for the Basque Country and also for our industry, the Basque shipbuilding industry, Zumaia and, of course, for the workers of Balenciaga and their families ".
The Councillor appreciates the terms of the proposal, "both from the point of view of maintaining jobs and from the point of view of the economy and future industrial activity".
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