Shipyard Ferguson Marine has officially been taken into public ownership, the Scottish Government has announced.
The move, reports STV News, came on Tuesday after administrators agreed the final terms of the transaction with Scottish Ministers.
The yard will now be known as Ferguson Marine (Port Glasgow) Ltd.
There had been three other offers for the Inverclyde site, however administrators concluded the sale to the Scottish Government represented the best outcome for creditors.
Staff at the shipyard have been told of the latest position.
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