New ownership completed for Turkish shipyard Proteksan Turqoise Yachts

Announced in the closing weeks of 2014, the pending sale of the Turkish shipyard Proteksan Turquoise Yachts Inc. has now been completed.

The new owner is Dr. Mohammed Al Barwani, owner of the Dutch Oceanco shipyard, and a businessman with interests in oil, gas, manufacturing and minerals across Europe, the Middle East and Asia Pacific.

The Proteksan shipyard is Barwani’s second major investment into the superyacht industry, and this transaction marks his majority stakehold in the Turkish shipyard business.

Located in Tuzia near Istanbul, the shipyard was first established in 2001 and has since completed build of 20 superyachts, including the 70.5m Talisman C in 2011, the 72.6m Vicky in 2012 and the 50.4m Ileria in 2013. 

Dr. Barwani commented on the new ownership, keeping it clear that his two shipyard businesses would remain independently operated. He said, “We will fully respect the differences between these two brands. Each has its own distinct strength and that’s exactly why I have invested in them both.”

He continued, “Different owner segments have different needs and the best way to meet these needs is through differentiated strategies.” 

Mehmet Karabeyoglu, CEO of Proteksan Turquoise added, “This is great news for the yard. Mohammed Al Barwani has a great track record in business with successful investments in a wide range of industries as diverse as petroleum, mining, engineering, hotels and insurance.”

The newly acquired shipyard will now focus on the completion of two existing hulls, the first being an 81m superyacht design by Andrew Winch, and the second a 47m yacht to be restyled by H2 Yacht Design. The hulls are scheduled for delivery in 2018 and 2016 respectively.

For more information, visit Proteksan Turquoise Yachts.