Tennor Holding acquires German shipbuilder FSG

Several businesses belonging to Amsterdam-based global investment company Tennor Holding are set to take on 350 employees from German shipbuilder Flensburger Schiffbau-Gesellschaft (FSG) in a combined work-study programme, as well as shipyard business assets, in the scope of a transferred reorganisation in line with German insolvency law.

The contract of sale has been notarised and the parties involved have agreed not to disclose the sale price.

The execution of the contract is still subject to the payment of the sale price and the entry of those employees whose jobs could not be retained into the newly established transfer company.

The date for the planned execution of the contract is September 1, 2020.