VRG Spain Selected as Appraiser of Largest Oceanographic Research Vessel

Freire Shipyard relies on Gesvalt's experience in the naval industrial sector for the valuation works of the modern oceanographic 'Belgium'

Madrid, Spain (30 June 2020)

Valuation Research Group (VRG), a leading global provider of independent valuation, advisory and value-related services is pleased to announce that our Spain-based member firm, Gesvalt, was selected by FREIRE Shipyard as the appriser for the largest oceanographic research vessel.

As an independent expert, Gesvalt develops consulting services for the naval sector and valuations in different scenarios. Their track record in the industrial sector and experience in similar processes in the naval area have been key to the choice of appraiser for this operation.

The Freire Shipyard shipyard in Vigo, which in 2020 celebrates its 125 years of history, entrusted Gesvalt with the assessment of a ship under construction. The ship is a state-of-the-art oceanographic and with cutting-edge technology that will be owned by the Belgian State.

Gesvalt’s work consisted of inspecting the ‘Belgica’ ship at the Vigo factory to check the progress of the project. In this sense, they act as responsible for the certification of the execution times and the evaluation of the construction in its current state. In the valuation, the Cost Method was applied to calculate the Replacement value, according to current regulations.

For more information on the valuation project, please click here.

About VRG

Valuation Research Group (VRG) is a global valuation practice that furnishes expert and independent opinions of value for solvency, fairness, business enterprises, intangible assets, capital stock, equity interests, real estate and fixed assets. VRG has a network of over 1,300 professionals located in offices throughout continental Europe and the United Kingdom, Brazil, China, India, Mexico, Canada, Argentina, Australia, and the United States. The Spain-based practice operates as Gesvalt.