Marine Link
Monday, January 16, 2017

France: "Multiple STX Shareholder" Solution Preferred

January 10, 2017

France wants a "multiple shareholder" solution to STX France, the shipbuilding company being sold off, French President Francois Hollande said on Tuesday.

 
"We are working with the aim that the state can remain a minority shareholder, we want a multiple shareholder solution," Hollande said, speaking at a news conference held with Italian Prime Minister Paolo Gentiloni.
 
Italian shipbuilder Fincantieri has made a bid for STX France, but France - which owns 33 percent of the company - wants to ensure that the French state remains a key stakeholder in the firm.
 
The head of French state-controlled military shipbuilder DCNS also said last week it was "very likely" that DCNS - in which Thales has a minority stake - would enter into the capital of STX France.
 
The sale of STX France, which specialises in building cruise ships at the Saint-Nazaire shipyard and is profitable, forms part of a broader sell-off of businesses following the demise of the South Korean STX shipbuilding group.
 
Reporting by Jean-Baptiste Vey and Sudip Kar-Gupta


 
Maritime Reporter Magazine Cover Jan 2017 -

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