Business news : Uk Shipyard Sunseeker in talks for majority stake purchase

The UK boatbuilder could be sold to China's Dalian Wanda in a deal worth £300m
                   
Subject to regulatory approval, leading UK yacht builder Sunseeker could have a new majority share owner within weeks.
                   
Sunseeker has issued a press statement confirming that discussions with an unnamed third party are in progress “over the sale of a majority stake in the business with any deal being subject to the approval of various regulators.”
                  
If the deal is concluded, new investment will be forthcoming from the existing management and founder Robert Braithwaite.
                   
Stewart McIntyre, Sunseeker’s chief executive, told IBI: “The discussions are ongoing and I cannot add any more. If they are successful it will not be a matter of months before reaching an outcome. Nothing will change. The current management team will remain including founder Robert Braithwaite. That was a pre-requisite for the talks going ahead.”
                  
McIntyre declined to comment on reports that the possible purchaser is the Chinese group Dalian Wanda, the same company that McIntyre told IBI a few weeks ago was buying into Sunseeker China, one of the two Chinese mainland distributors of Sunseekers. On the prospect that these talks might draw other potential buyers, McIntyre said: “We will not be talking with anyone else.”
                   
A Financial Times report suggested that Sunseeker might be bought for around £300m and that the deal would be completed by the end of June, subject to approval of the appropriate regulators. The FT also quoted Wang Jianlin, chairman and founder of Dalian Wanda, saying: “We bought the best yacht company in the UK.” However he did not indicate the deal involved Sunseeker by name.
                   
The Sunseeker statement confirmed: “Sunseeker will remain a British company, headquartered in Poole, Dorset and will maintain its existing primary production bases in the UK, along with its current workforce and infrastructure. The existing management team and representatives of FL Partners will remain on the Sunseeker Boards and founder Robert Braithwaite will continue to be 
involved in the business and remain as group president.
                   
It also added that: "Robert and Sunseeker’s management team will make a significant reinvestment in the business, providing continuity and a strong platform for the new model programme currently being developed in Poole."

Source Sunseeker By David Robinson through IBI