SMART4SEA Conference & Awards
2018
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SMART4SEA Conference & Awards
2018
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Det Norske Veritas assumes full ownership of DNV GL

dnv gl shares
Credit: DNV GL

The Norwegian Foundation Stiftelsen Det Norske Veritas has bought German Mayfair’s 36.5% shares in DNV GL Group. The agreement regarding the leading quality assurance and risk management company DNV GL was signed on 8 December.

In 2012, Stiftelsen Det Norske Veritas and Mayfair agreed to build a global quality assurance and risk management leader to succeed in a rapidly transforming market: Germanischer Lloyd was merged with Det Norske Veritas to create DNV GL. 

“Since we invested in Germanischer Lloyd in 2006, the company has expanded its position, and through the merger with Det Norske Veritas became a world market leader in its industries. The integration is now complete,” says Günter Herz of Mayfair.

The Foundation sees assuming full ownership of DNV GL as the best investment to fulfill its purpose of safeguarding life, property and the environment and to realize its strategy. The agreement between the two parties enables the Foundation to make this investment now and to provide continued support to DNV GL going forward.

“The merger between DNV and GL has created significant value, and we are thrilled about the opportunity to invest in DNV GL’s long term success. 100% of the cash generated will remain within the Group to support further development and positioning of DNV GL globally,” says Leif-Arne Langøy, Chairman of the Board of Directors of Stiftelsen Det Norske Veritas. Leif-Arne Langøy is also Chairman of the Board of Directors of DNV GL.

The DNV GL strategy, ‘Leading towards a digital, agile and efficient future’ remains unchanged. There will also be no changes to the management, organization, name or branding. DNV GL’s headquarters for the Maritime business area will remain in Hamburg.

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