ROME (Reuters) - Italy’s Fincantieri (FCT.MI) has an option to force the French government to buy its stake in STX France should Paris fail to meet a commitment to lend it 1 percent of the shipyard, a government source with knowledge of the matter said.
France and Italy agreed on Wednesday to end a row over an Italian bid for STX France in a deal that gives Fincantieri effective control of the shipyard without it legally owning a majority, a source said earlier.
Under the deal Fincantieri would have 50 percent of STX but would be lent a further 1 percent stake by Paris for a period of 12 years.
According to the government source, Fincantieri has a put option to sell its stake to Paris at a fair price.
Reporting by Giuseppe Fonte, writing by Stephen Jewkes; editing by Giselda Vagnoni