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Sale of STX France expected to resume this month

STX Offshore & Shipbuilding will mount a third attempt to sell of its French subsidiary as early as next week.

STX France controls Chantiers de l’Atlantique in Saint-Nazaire and Leroux Naval in Lorient and has a history of cruiseship construction.

The South Korean shipbuilder is going through a huge restructuring and is selling off non-core assets. Previous sale attempts of STX France fell through in 2014 and 2015. Last year, fellow Korean yard Daewoo Shipbuilding & Marine Engineering (DSME) conducted due diligence on STX France but did not pursue the sale as its own financial difficulties surfaced. As part of its own restructuring DSME is itself now looking for a buyer of its European yard, DSME Mangalia, the largest shipyard in Romania.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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