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France wants 'multiple shareholder' solution to STX France: Hollande
January 10, 2017 / 2:07 PM / 10 months ago

France wants 'multiple shareholder' solution to STX France: Hollande

PARIS (Reuters) - France wants a “multiple shareholder” solution to STX France, the shipbuilding company being sold off, French President Francois Hollande said on Tuesday.

The logo of STX is seen during a press conference at the STX Les Chantiers de l'Atlantique shipyard site in Saint-Nazaire, western France, western France, January 4, 2017. REUTERS/Stephane Mahe

“We are working with the aim that the state can remain a minority shareholder, we want a multiple shareholder solution,” Hollande said, speaking at a news conference held with Italian Prime Minister Paolo Gentiloni.

Italian shipbuilder Fincantieri (FCT.MI) has made a bid for STX France, but France - which owns 33 percent of the company - wants to ensure that the French state remains a key stakeholder in the firm.

The head of French state-controlled military shipbuilder DCNS also said last week it was “very likely” that DCNS - in which Thales (TCFP.PA) has a minority stake - would enter into the capital of STX France.

The sale of STX France, which specializes in building cruise ships at the Saint-Nazaire shipyard and is profitable, forms part of a broader sell-off of businesses following the demise of the South Korean STX shipbuilding group.

Reporting by Jean-Baptiste Vey and Sudip Kar-Gupta; Editing by John Irish

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