Following weeks of negotiations, the Finnish Government and German shipbuilder Meyer Werft have signed a share purchase agreement with STX Europe for STX Finland's Turku yard.
Meyer Werft will take a controlling 70 per cent stake in the business, with presently employs 1,300 and supports a specialised supplier network.
The shipyard is currently building the cruise ship 'Mein Schiff 4' for German cruise operator TUI Cruises.
Recently, TUI Cruises announced an additional two ships of the same class to be built at Turku.
The acquisition is still subject to clearance by antitrust authorities and banks.
Upon final sign-off, the yard will undergo a re-branding, from STX Finland to Meyer Turku Shipyard.