Greenberg Traurig, LLP has advised Harland & Wolff, the historic shipbuilder behind the construction of the Titanic, and its joint administrators, on a pre-pack administration sale to Navantia UK in a deal valued at approximately £70 million.

NEW YORK, Jan. 28, 2025 /PRNewswire-PRWeb/ -- Greenberg Traurig, LLP has advised Harland & Wolff, the historic shipbuilder behind the construction of the Titanic, and its joint administrators, on a pre-pack administration sale to Navantia UK in a deal valued at approximately £70 million. The government-backed rescue deal is expected to secure more than 1,000 British jobs and strengthen Britain's defense, maritime, and clean energy industrial capabilities.

Navantia UK, the UK subsidiary of the Spanish shipbuilding company, will take over the four operating yards in Belfast, Appledore, Methil, and Arnish, and is expected to see significant development across the defense, maritime, and green energy sectors. All current employees have transferred to Navantia UK with their existing terms and conditions preserved.

The transaction ensures the continuation of the Fleet Solid Support program, comprising three ships for the Royal Fleet Auxiliary to support the UK Carrier Strike Group. These vessels will be built at the Belfast and Appledore facilities alongside Navantia's facilities in Spain.

Greenberg Traurig's team advising Harland & Wolff and its joint administrators, Teneo Financial Advisory, was led by Shareholders John Houghton, global co-vice chair of the Restructuring & Bankruptcy Practice and chair of the London Restructuring, Insolvency, and Special Situations Practice, and Shashank Krishna, who leads the London Energy & Natural Resources Practice and is a member of the Government Contracts Practice. The team included Antitrust Litigation & Competition Regulation Shareholder Manish Das, Labor & Employment Shareholder Naomi Feinstein, and Restructuring & Bankruptcy Associates Nazmul Miah and Adam D. Potter.

Also assisting were Real Estate Shareholder Ashia D Adams, Corporate Shareholder Joel Wheeler, Litigation Shareholder Annabel Thomas, Corporate Senior Associate Patrick G. Lilly, Finance Associate Nickie Pickernell, Real Estate Senior Associate Varun Devesher, Real Estate Associate Emma Davis, and Tax Associate Hazleen Zakaria, along with trainees Grace Frampton, Alexandra Percy, and Nhan Pham-Thanh.

Houghton said, "Shortly after the Greenberg Traurig restructuring team became involved in this situation early last summer, Russell Downs of Armada Advisers was appointed as director to oversee the restructuring and turnaround of the Harland & Wolff Group. Russell in turn brought on board Alison Beveridge, with whom he had worked on the Ted Baker restructuring, and Ran Oren from Icknield. They were a brilliant team to work with to steer the group through to this successful exit.

"This landmark transaction deal marks a transformative step in Harland & Wolff's journey. We are delighted to have supported Russell, Alison, and the Teneo team in reaching an agreement that will help to retain Harland & Wolff's distinguished heritage and save high-skilled jobs, while creating a dynamic platform for growth under Navantia ownership."

Krishna added, "Having had the privilege of working with Harland & Wolff as a trusted advisor for several years, we are particularly pleased to support them through this pivotal transaction. A multidisciplinary team worked together to deliver seamless support and ensure successful completion of this deal, which is a testament to the strength of our long-standing relationship and our deep understanding of their business."

About Greenberg Traurig: Greenberg Traurig, LLP has more than 2750 attorneys in 48 locations in the United States, Europe and the Middle East, Latin America, and Asia. The firm is a 2024 BTI "Leading Edge Law Firm" for delivering on client expectations for the future and is consistently among the top firms on the Am Law Global 100 and NLJ 500. Greenberg Traurig is Mansfield Rule Certified Plus by The Diversity Lab. The firm is recognized for powering its U.S. offices with 100% renewable energy as certified by the Center for Resource Solutions Green-e® Energy program and is a member of the U.S. EPA's Green Power Partnership Program. The firm is known for its philanthropic giving, innovation, diversity, and pro bono. Web: http://www.gtlaw.com.

Media Contact

Stephen Rowe, Greenberg Traurig, LLP, +44 (0) 203 100 6780, Stephen.Rowe@gtlaw.com, https://www.gtlaw.com/en

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SOURCE Greenberg Traurig, LLP