Italian Fincantieri Acquires 50.75 Pct Shares in STX OSV

STX OSV Holdings Limited, one of the major global designers and shipbuilders of offshore and specialized vessels, informed that Fincantieri Oil & Gas S.p.A., a wholly-owned subsidiary of Fincantieri – Cantieri Navali Italiani S.p.A., has signed an agreement for the acquisition of 50.75% of the shares in STX OSV belonging to STX Europe AS.

Headquartered in Trieste, Italy, Fincantieri is one of the world’s largest shipbuilding groups, and has, over its 200 years of maritime history, built more than 7,000 vessels. It is a world leader in cruise ship construction and a reference player in other sectors such as naval vessels, cruise ferries, megayachts, special high value- added vessels, and ship repairs and conversions. Fincantieri has nearly 10,000 employees and has eight shipyards and two design centres in Italy, operates three shipyards in the United States through its subsidiary Fincantieri Marine Group, and is present in the United Arab Emirates with Etihad Ship Building, a joint venture set up with Melara Middle East and Al Fattan Ship Industries.

Mr Roy Reite, Chief Executive Officer and Executive Director of STX OSV, said, “We look forward to the cooperation with our new majority shareholder. As always, we remain focused on maintaining stable relationships with our clients, suppliers and other stakeholders. STX OSV will continue to develop its position in designing and building high-end, complex and customized offshore support vessels.”

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STX OSV, December 21, 2012