PricewaterhouseCoopers in South Korea was authorised last month to arrange the sale.
On the verge of bankruptcy with €243m in debt, the Korean group which is a two-thirds stakeholder in the French shipyard—the remaining third is owned by the French state—has until Sept. 9 to present a restructuring scheme to the Korean authorities to avoid liquidation.
Selling STX France is part of the restructuring, even if it is 'regrettable to have to do so,' the spokesperson said.
According to sources from France's Ministry of Economy, the French state, which has a potential veto on any sale, has been negotiating with a consortium of buyers and another candidate.
However, no agreement has been reached so far.
STX France employs 2,600 workers and, with 14 cruise ships contracted for MSC Cruises and Royal Caribbean, its orderbook is full until 2026.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Cruise News to your Google News feed.
