December 18 - Norway's Stiftelsen Det Norske Veritas has assumed full ownership of quality assurance and risk management company DNV GL, following the acquisition of Germany-based Mayfair's remaining shares in the company.
Through its DNV Holding entity, Stiftelsen Det Norske Veritas acquired Mayfair's 36.5 percent stake on December 8.
DNV GL was formed in 2012 through the merger of Mayfair's Germanischer Lloyd (GL) and Det Norske Veritas (DNV).
"Since we invested in Germanischer Lloyd in 2006, the company has expanded its position, and through the merger with DNV became a world market leader in its industries. The integration is now complete. We thank the Foundation [Stiftelsen Det Norske Veritas] for the collaboration, and we wish DNV GL and its employees continued success," said Günter Herz of Mayfair.
Stiftelsen Det Norske Veritas says it sees assuming full ownership as the best investment to fulfil DNV GL's purpose of safeguarding life, property and the environment.
Group president and ceo of DNV GL, Remi Eriksen, said the move signalled a new chapter in DNV GL's history. "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."
According to DNV GL, there will be no changes to the management, organisation, name or branding. DNV GL's headquarters for the maritime business area will remain in Hamburg.
Leif-Arne Langøy, Chairman of the Board of Directors of Stiftelsen Det Norske Veritas, and also Chairman of the Board of Directors of DNV GL.