On 19 May 2017, Fincantieri S.p.A has signed a share purchase agreement for the acquisition of 66.66% of the share capital of STX France, from its shareholder STX Europe AS. The purchase price of 79.5 million euro will be paid through available financial resources. The finalization of the shareholders’ agreement for STX France will be negotiated in accordance with the Heads of terms signed on 12 April 2017. Any change in the Fincantieri S.p.A 2016-2020 Business Plan will be evaluated in light of the agreement among the new shareholders of STX France.

STX France is a global operator in the shipbuilding sector, with great expertise in the design and engineering of the most complex and innovative ships, and it is based in Saint-Nazaire, France. In 2016 it has generated revenues of approximately 1.4 billion euro. The group has approximately 2,600 employees and more than 500 subcontractors and operates one of the most modern shipyards in the world.

Fincantieri said in a statement that “… 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”.