Navantia UK has agreed to acquire all four shipyards of British shipbuilder Harland & Wolff in the UK. The deal will secure the future of shipbuilding in Belfast, Scotland and Devon, safeguarding workers' existing terms and conditions.

Titanic shipbuilder Harland & Wolff will be bought by Spanish rival Navantia, as part of a commercial deal supported by the UK government that secures a key defense contract.

Spanish state-owned shipbuilder Navantia has agreed the long-awaited purchase of Harland & Wolff, rescuing the ailing Titanic builder whose parent company has been in administration since September.