Fincantieri Signs for the Acquisition of 50% of STX France

By ,   February 3, 2018 ,   Cruise Industry

Fincantieri S.p.A., via its subsidiary Fincantieri Europe S.p.A., has signed a share purchase agreement for acquisition of 50% of the share capital of STX France from the French State, represented by APE (Agence des Participations de l'Etat).

The signing took place after the resolution of a share purchase agreement signed previously on May 19, 2017 between Fincantieri and STX Europe as a consequence of an exercise by the state of its pre-emption right for acquisition of the entirety of the share capital of STX France on July 28, 2017 and followed the signing of a share purchase agreement between the state and STX Europe.

The acquisition is subject to closing of the transaction between STX Europe and the French State and to customary conditions for such kind of transactions.

The agreement provides Fincantieri with a purchase price of EUR 59.7 million, which shall be paid by available financial resources.

Fincantieri Signs for Acquisition of STX France

The signing is part of an agreement announced on September 27, last year by the French and Italian Governments regarding STX France's future shareholding structure. The agreement envisages Naval Group's participation as a STX France shareholder and represents a major first step to the creation of a future alliance in cruise and military naval sectors.