Navantia is expected to confirm on Thursday that it is acquiring Harland and Wolff, a historic Belfast shipyard known for building the Titanic, following months of exclusive negotiations.
The deal aims to save all jobs at Harland and Wolff and includes its facilities in Scotland and England, with an expected announcement regarding improved terms to acknowledge rising costs.
Carlos Cuerpo, Spain's economy minister, engaged with UK officials to discuss potential ties regarding Harland and Wolff and the UK's possible joining of the European Defence Fund.
Harland and Wolff, founded in 1861, once dominated the global shipbuilding sector, and now, as a UK subcontractor, continues to contribute to the Royal Navy's shipbuilding efforts.
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