Fincantieri: signed an agreement for the acquisition of 50% of STX France

CDP-controlled shipbuilder signed an agreement to buy half of the French company. Fincantieri confirms its leadership on international markets

Rome Febrauary 5, 2018

Fincantieri, a company controlled by CDP Group and a leader in the international shipbuilding industry, has signed a € 59.7 million purchase-and-sale agreement for the acquisition of 50% of STX France, a global operator in the naval sector based in Saint-Nazaire.

The signature is part of the agreement announced on September 27 by the French and Italian governments regarding the future ownership structure of STX France, which also includes the participation of Naval Group as a shareholder of STX France. The accord represents an important first step towards the creation of an alliance in both the civil and naval defense sectors.

The acquisition will be subject to the closing of the transaction between the French State and STX Europe, in addition to the usual conditions foreseen for this type of transaction. At the time of closing, the changes to the capital structure of STX France will also be implemented, according to the terms already agreed by the parties.

The operation confirms the direction taken by Fincantieri: strengthening the leadership on the world market, spreading Made-in-Italy know-how globally. The agreement with STX France fully falls within this vision. The complimentary link up of Fincantieri and STX France will allow the companies to serve all customers and final markets, generating value not only for shareholders, but also for employees and their network of suppliers.

The Italian shipbuilder is also engaged in the construction of ten FREMM units (European Multi-Mission Frigates) and, just a few days ago, launched the frigate Antonio Marceglia, the eighth ship of this series.

The unit, dedicated to Captain Antonio Marceglia, recipient of the Gold Medal for Military Valor, will be characterized by a high flexibility of use and have the ability to operate in all tactical situations. With a length of 144 meters and a width of 19.7 meters, the ship can reach a speed of over 27 knots with a maximum capacity of transported personnel of 200 people.