Independent journal on economy and transport policy
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Korea Development Bank prompt the sale of navalmeccanico group STX Europe
the objective is to accelerate the restructure financial institution of industrial group South Korean STX
October 10, 2013
The public credit institution South Korean Korea Development Bank (KDB) has announced the intention to reach the cession of navalmeccanico group STX Europe, that it constitutes the European division of group STX, with the objective to accelerate the restructure financial institution of the South Korean industrial group.
The cession would re-enter in the plan of agreed restructure of STX the slid spring with the main creditors of the enclosed group the Korea Development Bank. The KDB proposal would have the scope to use the proceeds of the sale in order to reduce the indebtedness of the South Korean group.
STX Europe, that it is of property of group STX through the participation of the branches STX Offshore & Shipbuilding (66.7%) and STX Engine (33.3%), is active in Europe through branch Finnish STX Finland, branch French STX France (66.6% STX Europe and 33.4% French State) and branch Norwegian STX Norway Florø. Moreover STX Europe possesses 50.75% of the capital stock of the STX OSV Holdings that is quoted to the Stock exchange of Singapore.
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The public credit institution South Korean Korea Development Bank (KDB) has announced the intention to reach the cession of navalmeccanico group STX Europe, that it constitutes the European division of group STX, with the objective to accelerate the restructure financial institution of the South Korean industrial group.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
