Marine Link
Thursday, December 14, 2017

Two Buyers Eye Struggling STX France Shipyard

September 7, 2016

(Photo: STX France)

(Photo: STX France)

Two potential buyers have emerged for STX France, a shipyard subsidiary of the struggling South Korean group STX Corp, according to a French finance ministry source.
 
The French state holds a 33 percent minority stake in STX France, which runs a naval shipyards in Saint Nazaire on the west coast. Lossmaking STX Corp is in administration.
 
A French finance ministry source said a South Korean court was poised to clear a decision to liquidiate STX Corp's assets on Friday this week, a move that could clear the way for the sale of its assets.
 
France, which has a potential veto right over any sale based on its holding and on the strategic significance of the military shipyard, is already negotiating with a buyout consortium, the source said.
 
"There is also another candidate, which would be good news for the shipyard," the source said. "Talks are going on in a proactive way and in anticipation of the sale process."
 
 
(Reporting by Guillaume Frouin and Yann Le Guernigou, Writing by Andrew Callus; Editing by Geert De Clercq)
Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News