Fincantieri today announced it has signed a share purchase agreement for the acquisition of 50 percent of the share capital of STX France from the French State, represented by the Agence des Participations de l’Etat (APE).

The agreement was valued at 59.7 million euro. 

The acquisition by Fincantieri is subject to the closing of the transaction between the French State and STX Europe and to customary conditions for this kind of transaction, according to a release. 

After the closing of the transaction, the shareholding structure of STX France will be the following:

– Fincantieri (Fincantieri Europe S.p.A.): 50.00% (an additional 1% will be borrowed from APE)
– French State (APE): 34.34% (of which 1% to be lent to Fincantieri)
– Naval Group: 10.00% (or 15.66% if the employee ownership plan or/and the participation of a group of local companies cannot be implemented at the same time)
– STX France employees: up to 2.40% 
– Local companies: up to 3.26%