Displaying items by tag: Buyer

3rd November 2019

Buyer of Harland & Wolff Confident of Deal Despite Infrastrata Missing Payment

Samson & Goliath cranes of H&W shipyard, Belfast. Workers staged a sit-in protest at the shipyard for weeks as part of a campaign to save one of Northern Ireland's biggest names in industry

As the Belfast Telegraph writes, the firm which agreed to buy Harland & Wolff has not met an initial deadline to pay part of the purchase price of the iconic Belfast shipyard.

Having paid a £500,000 deposit at the start of October, Infrastrata had a 'soft' target to pay £3.3m yesterday (Friday, 1 Nov.)

A total of 120 jobs were put at risk when Harland & Wolff went into administration in August after the collapse of its Norwegian parent company.

Workers staged a sit-in protest at the shipyard for weeks as part of a campaign to save one of Northern Ireland's biggest names in industry.

Their campaign was brought to an end when Infrastrata announced it would buy it for £6m last month.

A spokesperson for the London-based energy company said they are now aiming for a 'backstop' date of December 31.

The spokesperson cited due diligence and negotiations as the reason for the delay, and stressed there is no cause for concern when it comes to the completion of the purchase.

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