STX to sell stakes in STX Europe

It is reported that STX Shipbuilding in South Korea is planning to sell part of its stake in STX Europe in order to recover some of the cost of the takeover. Last year STX Shipbuilding acquired Norwegian group Aker Yards for $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.