Quebec-based Davie Shipyard sold

The Davie shipyard near Quebec City is expected to be sold to the Quebec-based ship repair company, Navamar.

The trustee for the bankrupt shipyard announced it has accepted Navamar’s purchase offer, considered the most suitable offer of the five companies interested in purchasing it.

Navamar will carry out a due diligence check before taking it over and that process should be finished before the end of March.

Davie has been bankrupt since 2001 and Navamar has other investment partners, some from outside Quebec, involved in the purchase offer. A total of five businesses submitted offers to buy the Davie shipyard.