STX France likely to be acquired by Fincantieri; no bid from Damen Shipyards—report (translated)
French shipbuilder STX France is likely to be acquired by the Italian ship builder Fincantieri, Dutch daily Het Financieele Dagblad reported.
Dutch ship builder Damen Shipyards will not place a bid, the company told Het Financieele Dagblad. Damen was expected to be an important bidder for STX France, the report said, but according to unnamed sources the Dutch ship builder decided to not place a bid because the price was too high for the companies Dame was cooperating with, namely MSC and Royal Caribbean Cruises Limited.
With Damen out of the race for acquiring a 66.7% stake it is likely Fincantieri will acquire STX France, the report said. STX France is expected to cost EUR 100m-EUR 200m.
However, unnamed sources told Het Financieele Dagblad that if Fincantieri and STX France fail to make a deal, Damen could well regain interest.
STX France is a daughter company of bankrupt South Korean ship builder STX Offshore Shipbuilding. STX France is the only profitable part of the company, the report said.