CVC takes majority stake in Spanish ship repair yard Cernaval

AI Summary

Infrastructure investor CVC DIF acquired a majority stake in Spanish ship repair company Cernaval. The deal includes its Campamento yard at the Port of Algeciras Bay, near the Strait of Gibraltar; financial terms were not disclosed.

Infrastructure investor CVC DIF has completed the acquisition of a majority stake in Spanish ship repair specialist Cernaval, giving the private equity group a foothold in one of Europe’s busiest maritime crossroads. The transaction covers the shipyard at Campamento in the Port of Algeciras Bay, strategically located on the Strait of Gibraltar. Financial terms and …