By David Robinson
A majority stake in Camper & Nicholson Marinas (CNM) is now owned by the Hong Kong-headquartered First Eastern Investment Group.
The First Eastern stake amounts to just over 52%; First Eastern Holdings has 27.4% and First Eastern Investments 25%.
A 50:50 joint venture, Camper & Nicholsons First Eastern (CNFE) was set up by CNM and First Eastern in August 2011 and at that time the latter acquired a 25% stake in CNM Investments, the Guernsey-quoted arm of the CNM Group.
Since the formation of CNFE, various share dealings have taken the First Eastern stake to its current level.
CNFE have over the past three years worked on a number of projects in China, including the Serenity Marina in Sanya, Hainan. However, so far they have not secured any marina management contracts.
Sean Purdy, CNM’s marketing director, told SB: “We are currently working on a number of projects in the region, including two in China and one in Malaysia. We are not at this time able to say anything about these projects until the clients are ready to do so.”
At the Monaco Yacht Show, CNM will repeat their action of last year by sharing a stand with Camper & Nicholsons International, which was recently taken over following the collapse of the Rodriguez Group.