The European marine mechanics STX Europe Group Holdings has sold part of its stake in STX OSV Holdings, a company that is majority shareholder and which was formed from the same STX Europe and listed on the Singapore Stock Exchange ( of September 30 and November 4 , 2010).
STX Europe has sold 215,590,000 ordinary shares of STX OSV at a price of $ 1.33 in Singapore, for a total of about 287 million Singapore dollars (235 million U.S. dollars) in investment funds that are headed by the OZ Management LP (Och-Ziff). These securities amounted to approximately 18.27% of the share capital of STX OSV.
Following the sale STX Europe remains the majority shareholder of the STX OSV holding 50.75% of the share capital of the company.Also with the acquisition of shares, the share of Och-Ziff in STX OSV rises to 20.0%.
The sale of the stake in Och-Ziff has been authorized by Goldman Sachs, which has implemented a lock-up agreement with STX Europe. A similar agreement was signed today by OZ Management STX Europe with the group under which the European marine mechanics is committed not to sell additional shares in STX OSV until November 12, 2012, with some limited exceptions.
At the same time STX Europe announced today that it has decided on early redemption of bonds maturing in 2012, listed on the Oslo Stock Exchange, in an amount equal to 250 million Norwegian kroner (46 million dollars). Part of the proceeds from the sale of shares in STX OSV Och-Ziff will also be used to repay loans for 650 million Norwegian crowns (120 million dollars) granted in 2008 and 2009 in Europe by STX STX Business Group, the agglomeration Industrial STX Group companies.
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The European marine mechanics STX Europe Group Holdings has sold part of its stake in STX OSV Holdings, a company that is majority shareholder and which was formed from the same STX Europe and listed on the Singapore Stock Exchange 
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
