Investor acquires 50% of Turkish yard

The Carlyle Group, which describes itself as a global private equity firm, has acquired a 50% stake in Turkish shipbuilder TVK.

TVK was founded in 2005 in the Kocaeli free trade zone to build chemical tankers up to 30,000 dwt and other specialised vessels. Carlyle says that the acquisition will help it to profit from the growth in the global shipping industry, while TVK says that the deal will allow it to expand capacity and build ships faster, and to complete the yard’s second slipway.