Italy’s Fincantieri group is set to take a 51% stake in French shipyard STX France, according to AFP.
The French news agency said Fincantieri will take a 50% interest in the shipyard at Saint-Nazaire with a further 1% “lent” by the French state, citing government sources.
The deal also has a “right of return” for a 12-year period, AFP said the sources added.
Fincantieri had originally rejected an offer from the French government to buy 50% of STX, having signed a purchasing agreement in May for a 66.66% interest.
French unions had opposed the sale because they feared the new owner would cut jobs.
STX France is providing the substations for Otary’s 309MW Rentel offshore wind farm off Belgium and Eon’s 385MW Arkona offshore wind farm in the German Baltic Sea.
Image: impression of Rentel substation (STX France)
Italians agree to STX stake
AFP reports deal set for Fincantieri to take 51% interest in shipyard.
By EBS