November 13, 2008
Management buy out at FSG
Newspaper Kieler Nachrichten reports that Flensburger Schiffbau Gesellschaft (FSG) is to be acquired from Egon Oldendorff by President and CEO Peter Sierk in a management buy out backed by Munich-based Orlando Management GmbH.
FSG, the German yard that built BC Ferries' three recently delivered Super C Class vessels, is a leading builder of RO/RO freight ferries and other tonnage with an order book extending into 2013.
No word on the price, but the deal is set to close January 1, 2009.