Reports received by SB from Turkey and the Netherlands are confirming that Oceanco owner, Mohammed Al Barwani, has acquired a majority stake in leading Turkish superyacht builder Proteksan Turquoise. The stake is understood to be 63% and believed to be the shareholding formerly owned by the late Hayatt Kamhi, the previous CEO of the company.

Turkish shareholders will retain a small single digit stake with the remainder of some 30% held by the current CEO Mehmet Karabeyoglu. It is being emphasised that for the foreseeable future both yards will continue as separate entities although at some point a name change may be made.

Barwani is a businessman based in the Sultanate of Oman and he has a range of interests apart from yacht building including minerals, oil, gas and manufacturing in the Middle East, Asia Pacific and Europe. He acquired Oceanco in 2010 and since then the company has been building ever bigger yachts, including two over 100m(328ft) as one of the Netherland’s leading large superyacht constructors.

There are also indications that Proteksan will work on two hulls lying at another yard in Turkey. These reportedly comprise an 81m(266ft) superyacht designed by Andrew Winch and a 47m(154ft). In addition negotiations are understood to be underway relating relating to two 40m(131ft) displacement yachts.