Fincantieri pulls out of Lloyd Werft take-over

In another sign of the global credit crunch, Italy’s Fincantieri has decided not to go ahead with its planned take-over of Germany’s cruise ship repair and conversion specialist Lloyd Werft. The Italian’s have decided not to exercise it option to increase its stake in the Bremerhaven-based shipyard from 21.1% to 51%, citing the current situation in the shipbuilding market and wider economic factors. Sphere: Related Content