French State Buys Into Stx

摘要

STX Europe and the French Republic have agreed for the French state to become a 33.34% shareholder in STX France and its shipyards in Saint-Nazaire and Lorient, via an equity investment of in total €110 million. STX Europe claims a 35%-40% share of the cruiseship market through its yards in France and Finland. The French yards also have experience with navy vessels. The French states initial payment will be supplemented, based on STX Frances performance over the period 2009-2011, by an earn-out mechanism whereby the French state will make a direct payment of up to €83,3 million to STX Europe.