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Fincantieri, France sign heads of terms for STX shipyard deal

Fincantieri and the French state signed the heads of terms (letter of intent) for the Italian shipbuilder to take a 48% stake in STX France.

Anne Kalosh, Editor, Seatrade Cruise News & Senior Associate Editor, Seatrade Cruise Review

April 12, 2017

1 Min Read
Credit: Seatrade Cruise News

The agreement covers guidelines for the business plan Fincantieri envisions for STX France, along with other terms outlined last week.

Fincantieri ceo Giuseppe Bono and French government representative Martin Vial of the Agence des Participations de l'Etat signed the terms, a key element in completing the deal, in the presence of French Secretary of Industry Christophe Sirugue on Wednesday.

Fincantieri said it is working with the Court of Seoul, which is overseeing the sell-off of assets held by South Korea's defunct STX Offshore & Shipbuilding group, to finalize the acquisition of the French shipyard 'as soon as possible.'

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About the Author

Anne Kalosh

Editor, Seatrade Cruise News & Senior Associate Editor, Seatrade Cruise Review

Anne Kalosh covers global stories, reporting both breaking and in-depth news on cruising's significant people, places, ships and trends. A sought-after expert on cruising, she has moderated conferences around the world, including the high-profile State of the Industry panel at Seatrade Cruise Global. She created and led the acclaimed itinerary-planning case study for Seatrade's cruise master classes held at Cambridge and Oxford universities. She has been the cruise columnist for AFAR.com, and her freelance stories have appeared in a wide range of publications, from The New York Times to The Miami Herald.

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