Asia

Fincantieri completes STX OSV buyout

Singapore: Fincantieri, through its wholly owned subsidiary Fincantieri Oil & Gas, has successfully completed the acquisition of 50.75% of Singapore-listed STX OSV from STX Europe, at a price of SG$1.22 per share, totalling approximately EUR455m (approximately S$730m).

Fincantieri has also announced its firm intention to make a mandatory unconditional cash offer for the remaining shares at a price of S$1.22 per share.

The total value of the transaction, including both the acquisition of the 50.75% stake and the mandatory unconditional cash offer, will amount to approximately EUR900m.

This acquisition marks Fincantieri's entry into a market segment complementary to its current ones. With 21 shipyards in three different continents, nearly 20,000 employees and revenues of EUR4bn, Fincantieri Group will double its size to become, what it claims, the fifth largest shipbuilder worldwide behind four Korean peers.   [23/01/13]

 

RELATED STORY:  (click on headline to read)

Splash

Splash is Asia Shipping Media’s flagship title offering timely, informed and global news from the maritime industry 24/7.
Back to top button