Damen to purchase Cam River Shipyard stake

Damen to purchase Cam River Shipyard stake

Ho Chi Minh:The Dutch shipbuilding company, Damen Shipyard Group, intends to buy at least a 70% stake of the Cam River Shipbuilding Company, a subsidiary of Shipbuilding Industry Corporation (SBIC), formerly known as Vinashin.

SBIC is in talks with the Prime Minister and the Ministry of Transport to confirm the maximum stake that the company can sell, according to the company.

Damen was approved to be a strategic partner of SBIC in the restructuring scheme of the Cam River Shipyard in August. SBIC planned to sell a 49% stake in initial discussions with the Dutch firm. [18/12/14]