Fincantieri signs an agreement with STX Europe for the acquisition of a majority stake of STX France
Friday, May 19, 2017
FINCANTIERI S.p.A. (“Fincantieri” or the “Company”) announces that it signed today a share purchase agreement for the acquisition of 66.66% of the share capital of STX France from its current shareholder STX Europe AS (“STX Europe”).

The agreement entails a purchase price of euro 79.5 million, to be paid through available financial resources.

The closing of the transaction will be subject to customary conditions for this kind of transactions.

Fincantieri continues to negotiate with the French State for the finalization of the shareholders’ agreement for STX France in accordance with the Heads of Terms signed on April 12.

With more than 150 years of history, STX France is a global player in maritime construction. Based in Saint-Nazaire, on the French Atlantic coast, the Group operates one of the most modern shipyards in the world and has great expertise in the design and engineering of the most complex and innovative ships. STX France has approximately 2,600 employees and a network of more than 500 subcontractors. In 2016 it has generated revenues of approximately euro 1.4 billion.

Through this industrial partnership, Fincantieri and STX France will create a global leader in all high-tech shipbuilding industry’s sectors. The perfect complementarity of Fincantieri and STX France cruise activities and products would allow the two companies to serve all the clients and end-markets and to generate value not only for the shareholders, but also for the employees and the respective subcontractors’ networks.

Any change to the forecasts envisaged by Fincantieri 2016-2020 Business Plan will be evaluated and disclosed  based on the finalization of the agreements among future shareholders of STX France.

The financial advisor supporting Fincantieri for this transaction is BNP Paribas.

Fincantieri is one of the world’s largest shipbuilding groups and number one by diversification and innovation. It is leader in cruise ship design and construction and a reference player in all high-tech shipbuilding industry’s sectors, from naval to offshore vessels, from high-complexity special vessels and ferries to mega-yachts, ship repairs and conversions, systems and components production and after-sales services.

Headquartered in Trieste (Italy), the Group has built more than 7,000 vessels in over 230 years of maritime history. With almost 19,200 employees, of whom more than 7,900 in Italy, 20 shipyards in 4 continents, today Fincantieri is the leading Western shipbuilder. It has among its clients the major cruise operators, the Italian and the U.S. Navy, in addition to several foreign navies, and it is partner of some of the main European defense companies within supranational programmes.

For more information, please visit: https://www.fincantieri.com

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