EU Clears Germany's Werft Bailout
This is a Papenburg news story, published by Yahoo Finance, that relates primarily to Meyer Werft news.
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Meyer Werft shipyardDPA International
•EU gives green light for German state rescue of Meyer Werft shipyard
79% Informative
Meyer Werft ran into financial trouble after contracted prices for ships, settled well in advance, failed to keep pace with rising costs.
Federal government and Lower Saxony state government each contributing 200 million ( $210 million ) The rescue plan involves an 80.73% stake in both the Werft shipyard in Papenburg and the Neptun Werft in Rostock.
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