STX sale: French state intends to get guarantees from FincantieriSTX sale: French state intends to get guarantees from Fincantieri

Ahead of his arrival at the yard, Sirugue told France's RMC Radio, 'If the prosperous STX yard in Saint Nazaire won't be nationalized', the French government has a minority blockade as the 33.33% shareholder.

The minister continued, 'We want to keep the Saint-Nazaire site and want to keep the network, that is the link with the subcontractors plus we want to keep two very important elements, which are the strategy and the patent rights, to prevent our know-how to be taken from us.

'These four requirements will be defended in our negotiations with Fincantieri, he added.

Stephane Le Foll, French government spokesman, said on France Info Radio, 'the French Government is going to act.  We are shareholders, so the French State will stipulate conditions which are a continuation of activity, securisation of the know-how and the capacity to plan for the future.'

The possibility of military shipbuilder DCNS (62% owned by the French State)  taking an equity share in STX Saint-Nazaire is not excluded, said Sirugue, 'but it wouldn’t be up to 50%,' he added.“We have said we wanted a European industrialist as a buyer, which is the case with Fincantieri. It would be difficult for us to say no.'

STX France has 12 confirmed cruise ship orders for delivery through to 2024.