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DNV Foundation assumes 100% control of DNV GL

DNV Foundation assumes 100% control of DNV GL
Five years after the merger of classification societies DNV and GL, the German owner of 36.5% of the combined entity has sold out its stake to Norway’s Det Norske Veritas Foundation, giving the latter 100% ownership.

“We are proud to have been part of building a leading quality assurance and risk management company over the past eleven years,” said Günter Herz of German holding group Mayfair, announcing the sale. 

“Since we invested in Germanischer Lloyd in 2006, the company has expanded its position, and through the merger with Det Norske Veritas became a world market leader in its industries. The integration is now complete.” 

Det Norske Veritas Foundation said it was “thrilled’ to be assuming full ownership of DNV GL and pledged to retain 100% of the cash generated by the sale within the Group “to support further development and positioning of DNV GL globally.”  

“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,” said Remi Eriksen (pictured), Group president and ceo.

The corporate strategy of ‘Leading towards a digital, agile and efficient future’ would remain unaltered, he added, with no changes to the “management, organization, name or branding”, and the Maritime business remaining headquartered in Hamburg.