The Turkish Dogus Group, which acquired a 70% stake in MB92 last year, is possibly in line to expand its shipyard activities with the acquisition of NCP in Croatia. Negotiations have been ongoing for several months. By David Robinson
The Turkish Dogus Group, which acquired a 70% stake in MB92 last year, is possibly in line to expand its shipyard activities with the acquisition of NCP in Croatia. Superyacht Business has learned that negotiations between the two companies have been ongoing for some months, but so far no deal has been concluded.
Ivana Prgin, who heads up the marking of the NCP group, told SB: “At the moment, I can only confirm that the interest is shown from both sides and some talks occurred but nothing official or formal has been signed yet.”
SB has been told that Dogus has been undertaking the negotiations through MB92.
NCP is a leading and long-standing player in the Croatia yacht market based in Sibenik. Its interests comprise a repair and refit shipyard, boat brokerage and dealerships, a yacht charter operation, Mandalina Marina and other associated activities.
The NCP shipyard is a key regional facility for yacht work with its resources including a 1,500-tonne capacity floating dock for craft up to 70m (230ft); a 900-tonne ship lift for craft up to 75m, two 70m sheds for repair, refit or new-build work, and a 10,000sq m hard stand area providing space for up to 12 yachts.
Dogus has already worked with NCP in operating Mandalina Marina, which can accommodate superyachts up to 140m (460ft). Out of its 429 berths, 79 are for superyachts.
Croatia is a country in which Dogus Group is making large investments. Some €350m has been invested by Dogus in resorts, hotels, Madalina Marina and other interests. The group also owns an 11% stake in ACI, the state-owned company that operates 22 marinas in Croatia. ACI may be privatised in the future, so Dogus might look to increase its holding.
The purchase of a 70% stake in MB92 valued the Barcelona shipyard at some €80m and the remaining 30% stayed with the management team. The company is working through a major expansion plan that, through this summer, saw the dismantling of the paint shed to make room for the new 4,000-tonne shiplift on which work will start in January 2017.
This new facility is due to be completed by the end of next year and it will extend across a 20,000sq m area and it will be able to accommodate 12 superyachts of up to 105m (345ft). It involves an investment of €45m and it is anticipated that it will create up to 250-300 new jobs.