Harland & Wolff, the Belfast shipyard best known for the Titanic, has been saved by a deal with Spain's state-owned shipbuilder. Navantia had been in exclusive negotiations since October after Harland & Wolff's holding company fell into administration.

Troubled shipbuilder Harland and Wolff, which crashed into administration owing more than £160m earlier this year, has been saved. Spanish state-owned business Navanti has struck a deal to buy the Belfast-based company in a move which will secure 1,