Announcement on Malta shipyards imminent

The Privatisation Unit in Malta is expected to announce preferred bidders for Malta Super Yacht Services and for the shiprepair arm in the very near future, Finance Minister Tonio Fenech said. MSYS attracted 3 serious bids of which 2 were shortlisted.

The highest bid came from a consortium that includes the Hili Group, Francis Busuttil, Ripard, the Falzon Group, S&D Yachts, surveyor Paul Cardona and a French partner. The other bidder?s majority shareholder (51%) is Astilleros, a shiprepair and shipbuilding company active in Palma de Mallorca since the 1940s. Its local partner is the Melita Marine Group. Although their bid was lower, the consortium?s more substantial foreign shareholding adds more weight to their bid in terms of strategic alliances, sources said.

With regards to the shiprepair facility, it appears that the decision has been taken and now needs to be approved by Cabinet at its next meeting.