Meyer Werft Buys Finland out of Turku Shipyard

Germany's family-owned Meyer Werft shipyard is buying the Finnish state out of Turku shipyard in southwestern Finland, the government said on Wednesday.

Meyer Werft and the government last year bought the troubled shipyard from Korean trade and ship corporation STX, with the change of ownership helping the yard to win several orders.

The price Meyer Werft is paying Finland for the 30 percent stake it does not already own was not disclosed.

Reporting By Jussi Rosendahl