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2009 February 16   13:12

STX Shipbuilding to sell stakes in STX Europe to recover cost

It is reported that STX Shipbuilding is planning to sell part of its stake in STX Europe in order to recover some of the cost of the takeover.
It may be noted that STX Shipbuilding acquired Norwegian group Aker Yards in 2007 for USD 1 billion and launched a re branding process for the Norwegian group, including changing the name of the company and shipyards it controls.
STX Europe operates 15 shipyards in Finland, France, Norway, Romania, Brazil and Vietnam, and partially owns 3 yards in Germany and Ukraine.

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