Croatian DIV Group in process to take-over Kleven Verft
The Croatian industrial group DIV Group has entered into an agreement to take-over the Norwegian yard Kleven Verft from Hurtigruten, the company said in its release.
The transaction is subject to final documentation process which is expected to be finalized during the next few weeks. DIV Group is one of the largest industrial groups in Croatia, and owns among others the largest shipyard in Croatia, Brodosplit.
- I am incredibly happy on behalf of all employees in Kleven that we now are about to get a new and solid owner of the yard. We have through a difficult period managed to deliver fantastic ships, and at the same time kept the high competence at the yard. Together with the new owners we will plan long-term and develop further. This will be a new and exciting era for all Kleven employees, says CEO Kjetil Bollestad.
- We are very pleased to have signed this agreement which provides an opportunity to connect two long and successful shipbuilding traditions. Kleven is recognized throughout the world as a Norwegian shipyard with top-notch references and construction knowledge, especially in equipping complex ships. I am most satisfied that Brodosplit, which we managed to position extremely well in the segment of construction of medium and polar cruisers, has found a business partner with whom it will achieve top results. Currently, Brodosplit is one of the most efficient shipyards in the world in terms of design and construction quality, velocity and construction technology. The ships we build are a visible and globally recognizable product, however we wanted more, and that is why we are thrilled to have connected Kleven and Brodosplit. This connection will create a positive synergy effect in all segments of our business, including contracting and financing the construction of new ships, as well as design, construction of hulls, and especially equipping future new buildings. Due to this this positive synergy, I also expect lower construction costs and significantly lower costs of financing new projects. The total savings that could amount up to 5 percent will allow us not only greater profitability, but also competitiveness when contracting and building complex and sophisticated mid-size ships. In this segment, with this coupling we have a great chance to be truly the best on the market. Together we will do everything to achieve this, said Tomislav Debeljak, owner and CEO of the DIV Group.
The CFO of Kleven Verft, Ola Beinnes Fosse, explains here the reason for the agreement with the DIV Group, as well as what Kleven has emphasized in the assessment of new ownership:
- For both Kleven and the DIV Group, this is a great opportunity to build on the expertise that exists of both organizations, and to take a position in a growing market, says Fosse.
1: Kleven and DIV Group have complementary skills, which together facilitate the ambition to become a world-leading and profitable shipyard.
2. They have a balance and equity that makes it possible to finance the construction of new ships.
3. They come up with new projects immediately andbrings us capital to allow us to retain the unique expertise that has been built up over the past few years.
In addition to several special vessels, Kleven Verft has in the past year delivered the world's first two hybrid-powered cruise ships - MS Roald Amundsen and MS Fridtjof Nansen - to Hurtigruten.
