The bill of sale between Bavaria Yachtbau GmbH and CMP has been signed these days and the creditors’ committee has approved the transaction together with Hubert Ampferl, CEO of Bavaria Yachtbau GmbH. The final step will the validation of the document by the German Federal Cartel Office (Bundeskartellamt) which is expected in a couple of weeks.
Founded in 2000, CMP Capital
” We are convinced of Bavaria Yachts’s global market potential and will sustainably develop the company. The restructuring measures will focus on regaining market share and improving production costs”.
The comment was echoed by the words of Tobias Brinkmann, CEO of Bavaria Yachtbau:
So, CMP society will focus not only on the turnaround management and therefore the repositioning of the German shipyard on the market but it will have also to complete all the projects undertaken by Bavaria Yachts through operative support and specific managerial measures. CMP will also acquire all shares in the French subsidiary Bavaria Catamarans S.A.S. The private equity fund has also contributed to save the 550 employees of Bavaria Yachts in Giebelstadt and all 250 workers of Bavaria Catamarans in Rochefort.
Now, the future of Bavaria Yachts is in the hands of an excellent buyer, specialized in this kind of operations. We just have to wait for next developments in order to see which strategies will be put in action to fix the company.
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