Gleiss Lutz Advises MEYER WERFT on Major EUR 10 Billion Contract for Six Cruise Vessels

Gleiss Lutz advised Meyer Werft GmbH (MEYER WERFT) in connection with a major contract with MSC Cruises S.A. (MSC Cruises). The transaction covers the construction of up to six cruise vessels totalling EUR 10 billion. MEYER WERFT and MSC Cruises, together with the Federal Republic of Germany and the State of Lower Saxony as MEYER WERFT shareholders, signed an agreement for the construction of four vessels of the new New Frontier class, with two additional options. The order secures full capacity at the Papenburg shipyard well into the next decade. The New Frontier ships will have a maximum passenger capacity of 5,400 and measure approximately 180,000 gross tons. Deliveries are scheduled on an annual basis beginning in 2030. MEYER WERFT, headquartered in Papenburg, Germany, is one of the world’s leading shipyards, noted for building advanced cruise and special-purpose vessels. The company is majority-owned by the Federal Republic of Germany and the State of Lower Saxony, with private ownership retained by the Meyer family. MSC Cruises, headquartered in Geneva, Switzerland, is the third-largest cruise line globally and the market leader in Europe, operating cruises on five continents with a growing presence in North America. Gleiss Lutz represented MEYER WERFT with a team composed by: Dr. Alexander Schwarz (partner, Düsseldorf); Martin Hitzer (partner, Düsseldorf); Dr. Joscha Meyer (partner, Düsseldorf); Dr. Johannes Hieronymi (counsel, Corporate/M&A); Dr. Helge Kortz (partner, Banking & Finance, Frankfurt).

Gleiss Lutz Advises MEYER WERFT on Major EUR 10 Billion Contract for Six Cruise Vessels

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