VGP formally acquires the lands of La Naval and the 175 former employees will soon collect the settlement

The Belgian group VGP acquired Yesterday formally the batch that integrates the floors of the old shipyard from La Naval de Sestao for € 36 million, after the Commercial Court number 2 of Bilbao authorized its sale last April. Formalized the sale, the 175 ex-workers of the shipyard will be paid in the near future a close game of 5 million euros to distribute among all. The pending settlement will complement what has already been received by Fogasa.

The winner of the 280,000 m2 plot, which includes the existing industrial buildings, the dry docks and the offices of the former shipyard, will build a logistics park there.

The assets of La Naval had been divided into 20 lots and the main one, the one that included the floor, the pavilions and the tool, is the one that this Belgian group has been awarded.

In total, 100 offers had been submitted to opt for the 20 lots in which La Naval de Sestao was divided, of which 11 were for the lot that the Belgian group VGP has finally been awarded.

VGP’s plan for a new logistics park will maintain existing elements and buildings to preserve the iconic features of the old shipyard. The resolution of licenses and authorizations is being processed in close collaboration with all the administrations involved.

The 175 former employees of La Naval who were fired when the shipyard began its dissolution process will receive an amount of about 5 million euros in the near future. The rest of the VGP payment for La Naval will go to compensate the various creditors of the shipyard, such as banks, institutions or suppliers.