Fincantieri Buys Majority Stake in STX France

Italian shipbuilding company Fincantieri S.p.A. said it has signed a share purchase agreement for the acquisition of 66.66 percent of the share capital of STX France shipyard from its current shareholder STX Europe AS. The agreement entails a purchase price of €79.5 million ($89 million).

Fincantieri continues to negotiate with the French State for the finalization of the shareholders’ agreement for STX France in accordance with the Heads of Terms signed on April 12.

Based in Saint-Nazaire, on the French Atlantic coast, STX France has approximately 2,600 employees and a network of more than 500 subcontractors. In 2016 it has generated revenues of approximately euro 1.4 billion ($1.6 billion).