France's Macron aims to renegotiate STX France dealFrance's Macron aims to renegotiate STX France deal

The deal had Italy's Fincantieri paying €79.5m for a 67% share in the French shipyard following the collapse of South Korean parent STX. France kept its minority 33% stake and Fincantieri agreed to reduce its stake to 48% by selling shares to an Italian investment consortium, Fondazione CR Trieste. French state-controlled naval shipbuilder DCNS would take a 12% stake.

Fincantieri also agreed to maintain jobs and activity at STX France. However, the deal has been contested by the French unions and local officials who are wary of being controlled by the Italian shipbuilding giant.

'I am pleased about the industrial merger between Fincantieri and the yards and I want this partnership to consolidate,' Macron said Wednesday during remarks at MSC Meraviglia's delivery.

'But I also wish the balance principles signed in April to be revised in order to consolidate the industrial plan, guarantee job preservation on the site, the excellence of its know-how, the independence and the sovereignty of the country,' Macron said.

Though the president did not say so in his remarks at the shipyard, Le Monde reported the new administration would like to exclude the Italian investment consortium and sell a combined 10% stake to two of STX France's biggest clients, MSC Cruises and Royal Caribbean Cruises Ltd.

A Fincantieri spokesman declined comment to Seatrade Cruise News, as did a spokesman for MSC Cruises.

Royal Caribbean, too, had nothing to say about the Le Monde report. However, cfo Jason Liberty noted STX France has been a very important partner of Royal Caribbean's for years.

'The highly skilled workers at STX France have built some of our most amazing ships, most recently Harmony of the Seas and Symphony of the Seas setting sail next year, and will be building our highly anticipated new Edge-class ships,' Liberty said. 'While we take great pride in our partnership with STX France, we don't comment on rumors.'

French Minister of the Economy Bruno Le Maire is in charge of negotiating a new STX France shareholding structure in the coming weeks.

The French government has the right to preempt the deal until July 19.