The Foundation Det Norske Veritas assumes full ownership of DNV GL
Stiftelsen Det Norske Veritas (The Foundation) and Mayfair announce the sale of Mayfair’s 36.5% shares in DNV GL Group AS to DNV Holding AS. The agreement regarding the leading quality assurance and risk management company DNV GL was signed on 8 December 2017, DNV GL said in its press release.
In 2012, Stiftelsen Det Norske Veritas and Mayfair agreed to build a global quality assurance and risk management leader well positioned to succeed in a rapidly transforming market: Germanischer Lloyd was merged with Det Norske Veritas to create DNV GL. Since the merger, the joint company has successfully adapted its organization and realized significant synergies. It also strengthened its position in research and innovation and moved forward with its digital transformation.
The Foundation sees assuming full ownership of DNV GL as the best investment to fulfil its purpose of safeguarding life, property and the environment and to realize its strategy. The agreement between the two parties enables the Foundation to make this investment now and to provide continued support to DNV GL going forward.
About Stiftelsen Det Norske Veritas
Stiftelsen Det Norske Veritas is a free-standing, autonomous and independent foundation whose purpose is to safeguard life, property and the environment. This purpose is achieved through its ownership of wholly or partly-owned companies – of which the most important is the DNV GL group, a classification, certification and technical assurance and advisory company. Until this transaction Stiftelsen Det Norske Veritas owned 63.5% of the DNV GL group through Det Norske Veritas Holding AS. The remaining 36.5% was owned by Mayfair SE through Mayfair Beteiligungsfonds II GmbH & Co KG.
In addition to its main activity as majority owner of DNV GL Group AS, Stiftelsen Det Norske Veritas also owns real estate, most notably the headquarters premises of both Stiftelsen Det Norske Veritas and the DNV GL group in Norway.
About DNV GL
DNV GL is a global quality assurance and risk management company. DNV GL provides classification, technical assurance, software and independent expert advisory services to the maritime, oil & gas, power and renewables industries.
Mayfair SE is the family office of Günter Herz and Daniela Herz-Schnoeckel. Since its foundation Mayfair acquired major shareholdings in Puma SE, Vapiano SE, Germanischer Lloyd SE and DNV GL AS.