DNV GL becomes fully Norwegian as German partner sells stake

It’s taken more than five years but finally, the Foundation Det Norske Veritas has bought out its German partner’s stake in merged class society DNV GL.

In 2012 DNV agreed with German investment vehicle Mayfair to merge with Germanischer Llyod to form class giant DNV GL. A week ago Mayfair agreed to sell its 36.5% stake in the merged company, the pair has revealed, making the company fully Norwegian. Nevertheless, the company has been keen to stress that it will keep its maritime headquarters in Germany’s port city, Hamburg.

Group president and CEO of DNV GL Remi Eriksen commented: “Moving forward with one strong owner with a long-term view and a fully aligned purpose will be good for DNV GL’s customers and employees.”

There will also be no changes to the management, organisation, name or branding, DNV GL stated in a release.