Fincantieri, the builders of such mega liners Oasis of the Seas and Allure of the Seas, has announced that it signed a share purchase agreement for the acquisition of 66.66% of the share capital of STX France from its current shareholder STX Europe AS (“STX Europe”).

The agreement entails a purchase price of euro 79.5 million, to be paid through available financial resources.

With more than 150 years of history, STX France is a global player in maritime construction. Based in Saint-Nazaire, on the French Atlantic coast, the Group operates one of the most modern shipyards in the world and has great expertise in the design and engineering of the most complex and innovative ships. STX France has approximately 2,600 employees and a network of more than 500 subcontractors. In 2016 it has generated revenues of approximately euro 1.4 billion.

Through this industrial partnership, Fincantieri and STX France will create a global leader in all high-tech shipbuilding industry’s sectors. The deal 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.