Italy’s Fincantieri has signed a purchase agreement to acquire a nearly 67 percent share of shipbuilder STX France for $89 million, Fincantieri said last Friday.

The price of $89 million will be paid through available financial resources to current majority shareholder STX Europe AS. The remaining balance of shares is held by the French state. While the acquisition is pending, Fincantieri is continuing to negotiate with France for the finalization of the shareholders’ agreement for STX France in accordance with an April 12 Heads of Terms document.


STX France produces both passenger ships and naval vessels including Offshore Patrol Vessels (OPVs), frigates, and landing helicopter docks (LHD, also known as amphibious assault ships or helicopter carriers). It has built three Mistral-class LHDs including the French Dixmude and two LHDs originally built for Russia.

The Russian-bound ship sale was cancelled by the French government following the 2014 Russian intervention in Ukraine and military activities in eastern Ukraine. France reimbursed Russia for the cancellation and the ships were later sold to Egypt in 2015

STX France has about 2,600 employees and a network of over 500 subcontractors. It generated about $1.6 billion in revenues in 2016, Fincantieri said.

“Through this industrial partnership, Fincantieri and STX France will create a global leader in all high-tech shipbuilding industry’s sectors,” the company said in a statement.

Fincantieri’s financial advisor in the transaction is BNP Paribas.