Fincantieri has been designated as the preferred bidder for South Korean STX Shipbuilding’s French unit by a South Korean court.
Fincantieri would now conduct field research on the shipyard and agree a price with the South Korean firm before signing a deal for its 66.6 percent stake, Judge Choi Ung-Young, who acts as a spokesman for the Seoul Central District Insolvency Court was quoted as saying by AFP Tuesday.
Fincantieri, Netherlands-based Damen Shipyards Group and French state-controlled naval shipbuilder DCNS had initially expressed interest in acquiring STX France, which specialises in building cruise ships.
But the Italian shipbuilding giant was the sole bidder to submit a binding proposal last month.
STX in 2008 bought a two-thirds stake in the huge shipyard in the western French port of Saint-Nazaire, later renamed STX France.
It is currently the company's only profitable unit. The French state holds the remaining stake and is extremely concerned about the future of the shipyard, a major local employer with a healthy order book for cruise liners.
STX Offshore's creditors last month narrowly approved a debt restructuring plan, avoiding the imminent liquidation of what was once South Korea's fourth largest shipbuilder.
Australia has shortlisted three European companies as part of its AUD 40 billion (US $31 billion) naval modernization program. UK based BAE Systems, Italys Fincantieri and Spanish Navantia had been asked to refine designs for nine new frigates to be built for AUD 35 billion, Wall street Journal reported Monday
Indian Mazagon Dock Ltd has teamed up with Italian shipbuilder Fincantieri to build stealth frigates. Mazagon Dock (MDL) and Garden Reach Shipbuilders (GRSE) are involved in Indian Navys Project 17A to build seven stealth frigates ordered last year
Decommissioned vessels of the Italian Navy will be upgraded and supplied to Bangladesh Coast Guard by Fincantieri. The Italian shipbuilder has been awarded the contract with the Bangladesh Coast Guard (BCG) for the supply of four Italian Navy “Minerva” class corvettes to be upgraded and converted into Offshore Patrol Vessels (OPVs), and to provide the related logistics support services
Fincantieri and Finmeccanica have won a US$1.2 billion contract for the construction and equipment of one multipurpose amphibious unit for the Italian Navy
Fincantieri, Finmeccanica announced today that they have won a 3.5 billion Euros (US$ 4 billion) contract for the construction of seven ships in the plan to renew Italian Navy fleet
The South Korean Navy will receive the first of several new generation high-speed patrol boats for operation near the border with North Korea in the Yellow Sea. The new 230-ton patrol killer medium rocket ship will be delivered in a ceremony to be held at Busan shipyard of Hanjin Heavy Industries later today, according to the South Korean Defense Acquisition Program Administration officials quoted in the Korean media
Italian shipbuilder Fincantieri will take control of France's STX shipyard to create one of the largest naval shipbuilding companies in the world. The Italian and French governments struck a deal in Lyon yesterday to end a dispute between the two countries after France had unexpectedly blocked a takeover of the STX shipyard by Fincantieri this summer, citing job and strategic concerns, AFP reported
Frances Finance Minister Bruno Le Maire has offered to expand shipbuilding cooperation with Italy into naval vessels to renegotiate STX France shipyard ownership deal. Le Maire said in an interview published on Sunday by Le Journal du Dimanche that he will open renegotiations in Rome on August 1, Reuters reports
France has threatened to nationalize the STX France Defence Shipyard if Italy, which has sought a majority stake, does not accept its offer of equal ownership. Italy turned down yesterday the French proposal to of an equal share in STX France's ownership with Paris, saying it wanted the Italian state-owned Fincantieri shipbuilder to have a majority stake and control of the board,
Italian shipbuilder Fincantieri has delivered the new Type U212A Todaro-class submarine Romeo Romei to the Italian Navy's NAVARM naval armament unit The submarine, which was delivered at the company's shipyard in Muggiano located at La Spezia of Italy, is the last of the four Todaro-class twin units ordered by NAVARM, the company announced Thursday. Its other twin unit, Pietro Venuti, was delivered to the navy at the Muggiano shipyard in July last year
The Directorate General of Armaments (DGA) has certified the initial standard of the new French special forces heavy vehicles (PLFS). The first PLFS were delivered on February 1, 2017
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