Print Edition - 2016-12-29  |  Money Digest

Single bidder for STX French unit


Dec 29, 2016-

A South Korean court handling the bankruptcy case of STX Offshore and Shipbuilding, said Tuesday that only a single bidder had submitted a binding proposal to buy the shipyard’s profitable French unit. Italian shipbuilding giant Fincantieri SpA, Netherlands-based Damen Shipyards Group and French state-controlled naval shipbuilder DCNS had initially expressed interest in acquiring STX France, which specialises in building cruise ships “But only one bidder has met the deadline for making a binding offer,” judge Choi Ung-Young, who acts as a spokesman for the court in Seoul, told AFP. He declined to identify who the bidder was, but said the proposal was being studied by Samil Pricewaterhouse-Coopers, which is handling the sale. (AFP)

Published: 29-12-2016 09:18

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