FRANKFURT - The German federal government and the state of Lower Saxony are nearing a deal granting Geneva-based shipping group MSC the right to acquire roughly 80% of German cruise shipbuilder Meyer Werft, Der Spiegel reported on Nov. 14. The agreement could be signed as early as next week.
What happened?
The roughly 80% stake stems from a state bailout at the end of 2024, when Berlin and Lower Saxony each took around 40% and injected a combined €400 million ($441 million) in equity. "The German government and regional state of Lower Saxony are nearing a deal that gives Geneva-based shipping group MSC the right to acquire about 80% of the shares in German shipbuilder Meyer Werft, Spiegel magazine reported on Saturday," Reuters wrote via gCaptain. The founding Meyer family, which established the shipyard in 1795 and holds the remaining 20%, is negotiating a joint ownership arrangement with MSC.
Why does it matter?
MSC Cruises serves as the Papenburg-based shipyard's largest commercial customer, underpinning its long-term orderbook. In December 2025, MSC Cruises announced an order for up to six cruise ships from Meyer Werft, a contract Bloomberg valued at €10 billion through 2033. A spokesperson for the Meyer family told Der Spiegel that very constructive talks are continuing with all involved parties.
What comes next?
Germany's economy ministry declined to comment on ongoing negotiations, while MSC and Meyer Werft did not immediately respond to requests for comment. If the contract is signed next Tuesday as reported by Der Spiegel, it will set the timeline for transferring the state's bailout holdings to private maritime ownership.
