SEOUL Oct 18 A South Korean court has decided
to allow two units of the collapsed STX shipbuilding group to be
sold either separately or together, according to a sales notice
seen by Reuters on Tuesday, opening the prospect of a separate
sale of STX France.
The French business, which specialises in building cruise
ships at its former naval yard in Saint-Nazaire and is
profitable, is expected by analysts to attract buying interest.
Bids are due in by Nov. 4 for STX Offshore & Shipbuilding Co
Ltd and a 66.7 percent stake in STX France SA that is held by
STX Europe AS, according to a sales notice from advisor Samil
PricewaterhouseCoopers that is due to appear in South Korean
newspapers on Wednesday.
The French state holds the remaining stake in STX France and
said last week that it was not planning to buy a majority stake
in the unit but would retain its minority blocking stake and is
expected to have a say in any ownership change.
The Seoul Central District Court, which is managing STX
Offshore's receivership, approved the sale plan this week after
discussions with stakeholders including creditor banks, an STX
Offshore spokesman said, declining to comment on possible sales
prices or potential interested parties.
While the court overseeing STX Offshore's receivership would
prefer that a single buyer acquire both assets, it has agreed
that they can be sold separately, the spokesman said.
(Reporting by Joyce Lee; Writing by Tony Munroe; Editing by