Fincantieri has perfected the acquisition of 50.75% of STX OSV



The navalmeccanico group Italian Fincantieri has announced to have perfected with success, through own society controlled Fincantieri Oil & Gas Spa, the acquisition of 50.75% of STX OSV from STX Europe, to a price of 1,22 dollars of Singapore per.share, pairs to a equivalent value of about 455 million euros (about 730 million dollars of Singapore) ( on 21 December 2012).

STX OSV, society quoted to the Stock exchange of Singapore, is world leader in the means construction of support to the activities of extraction and production of oil and natural gas. The company employs about 9.200 dependent and work all over the world through 10 yards (five in Norway, two in Rumania, in Vietnam and in Brazil to which another under construction in the same Country will join some).

Fincantieri has specified that, online with the terms previewed from the regulations of the Stock exchange of Singapore in within of acquisitions and fusions, Fincantieri Oil & Gas Spa it has announced its determination to promote obligatory a public purchase offer on remaining sets in action at the price of 1,22 dollars of Singapore per.share. The offer will have to remain open for a minim of 28 days from the date of presentation of the relative document, that it is previewed within next the two or three weeks.

The value total of the operation, including is the acquisition of 50.75% that obligatory the public purchase offer, will be pairs to about 900 million euros (about 1.450 million dollars of Singapore) and will be financed mostly through uses it of internal resources of Fincantieri and making rerun to a granted bank financing from a pool composed from Bank IMI, BNP Paribas (filial Italian), Carige and Unicredit. The financing operation will see moreover the participation of Bank of Deposits and Loans in the role of backer guaranteed from SACE.

The Italian group has remembered that "this operation marks the income of Fincantieri in a segment of complementary market regarding those until now garrisoned. With 21 yards in three various continents, almost 20,000 dependent and revenues for four billions of euro, the group - it has emphasized the company - doubles its dimensions and on a worldwide basis becomes the fifth naval constructor of reference behind of the first four, all Korean, and the only western producer for diversification and presence in all the fields to high added value in a position to being confronted with the Asian giants".