Official press release from Navantia or Harland & Wolff, or credible news outlets reporting the completion of the acquisition

Navantia in Talks to Acquire Harland & Wolff, Builder of Titanic, Amid MoD Negotiations for One Percent Growth

Nov 3, 2024, 08:55 PM

Navantia, the Spanish state-owned shipbuilder, is in advanced discussions to finalize a takeover of Harland & Wolff, the Belfast-based shipyard known for building the Titanic. The move comes as Navantia seeks improved terms from the UK Ministry of Defence (MoD) for a rescue deal involving Harland & Wolff. The UK government has been collaborating with Navantia UK, the primary contractor for the project, to monitor and support the shipyard's role in the contract. This acquisition is expected to contribute to a projected growth of global shipbuilding capacity by one percent, marking a significant development in the industry as the historic shipyard is reactivated amidst ongoing negotiations regarding potential subsidies.