Fincantieri’s bid for a majority stake in STX France has been approved as the preferred bidder by the South Korean courts.
The French government will keep a 33 percent stake in the yard if the buyout moves forward, while Fincantieri will become the majority owner at two thirds, and was reported to be the only bidder.
It’s a dominating move for Fincantieri, which before the news, accounted for 27 of 73 cruise ships currently on order.
With STX France under Fincantieri’s control, the Italian group now adds another 11 newbuilds to its orderbook, some 38 of 73 ships on order.
The French government will keep a 33 percent stake in the yard if the buyout moves forward, while Fincantieri will become the majority owner at two thirds, and was reported to be the only bidder.
It’s a dominating move for Fincantieri, which before the news, accounted for 27 of 73 cruise ships currently on order.
With STX France under Fincantieri’s control, the Italian group now adds another 11 newbuilds to its orderbook, some 38 of 73 ships on order.
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