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Palumbo Set To Sell Stake In Malta Shipyard To MSC Cruises

Palumbo set to sell stake in Malta shipyard to MSC Cruises

Source: PortSEurope
Valletta, Malta (PortSEurope) February 20, 2020 – Naples-based Palumbo Group is reported locally to be selling a 50% stake in its Cospicua shipyard in Malta to Swiss-headquartered MSC Cruises, making the companies partners in the facility. Located in Valletta harbour, the Palumbo Shipyard Malta, which can accommodate ships up to 300,000 tons, is the one stop solution for refit, repair, maintenance and conversion for vessels
of all types and dimensions. Served by one of the biggest docks in Europe, the yard is part of the Maltese maritime cluster. The Malta Competition and Consumer Affairs Authority (MCCAA) is checking if there are any competition issues from the proposed deal. Palumbo has been operating the shipyard under a 30-year concession since 2010, taking over the three dockyards for ship repair and the yacht marina at Manoel Island. Palumbo group operates shipyards and specialises in superyachts. It has ship facilities, in Ancona, Malta, Marseille, Messina, Naples and Rijeka and Savona. MSC Cruises is a privately-owned, global cruise line based in Geneva. It was founded in Naples, Italy, in 1989. It is part of the Mediterranean Shipping Company S.A., the world’s second biggest container shipping operator. Valletta port is visited regularly by MSC Cruises vessels. Copyright (C) PortSEurope. All Rights Reserved. 2019.

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