Fincantieri takeover of STX France confirmed

French Finance Minister Bruno Le Maire has confirmed a merger between Italian shipbuilder Fincantieri and STX France, reports Reuters.

“Italy and France share the same desire to wrap up the STX-Fincantieri merger, which will produce one of the biggest civilian shipbuilders in the world,” Le Maire reportedly told journalists after talks with the Italian Government.

Fincantieri bought a 50 per cent share in STX France earlier this year and renamed its shipyard Chantiers de l’Atlantique.

The yard currently has at least one ship under construction, a cruise ship for Celebrity Cruises.