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Navantia to Acquire Harland & Wolff in Belfast for £70 Million, Saving 1,000 Jobs with UK Government Support
Dec 19, 2024, 09:36 AM
Spanish state-owned shipbuilder Navantia is set to acquire Harland & Wolff, the iconic shipbuilder based in Belfast, in a deal valued at approximately £70 million. This acquisition is expected to save around 1,000 jobs across Harland & Wolff's four UK facilities. The UK government has expressed support for the transaction, despite its general opposition to state ownership in the UK industry. The deal is seen as part of the broader economic shifts following Brexit, with Navantia, which is owned by the Spanish government through SEPI, stepping in to secure the future of the troubled shipbuilder.
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