Fincantieri Studies Capital Hike to Bid for Aker Yards

Monday, February 11, 2008
According to reports, Fincantieri is studying a capital increase to bid for Aker Yards. Reports say that Fincantieri has the support of the Italian, French, Norwegian and Finnish governments, which want to avoid Aker being taken over by the South Korean group STX Shipbuilding. STX has already bought a 39.2 pct in the Norwegian group, which also has shipyards in France and Finland. The capital increase could be subscribed by public companies controlled by the governments of the four countries, including Fincantieri's own parent company the state holding Fintecna, it said. Fincantieri could seek a bourse listing and make a share and cash offer for Aker, aiming to buy 51 pct of the company, reports said. Source: Forbes

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