Fincantieri has confirmed it has signed a share purchase agreement for the acquisition of 66.66 percent of the share capital of STX France from its current shareholder STX Europe.

The agreement entails a purchase price of euro 79.5 million, according to a statement, and Fincantieri said it is still working on a deal with the French State for the finalization of the shareholder’s agreement. 

The closing of the transaction will be subject to customary conditions for this kind of transactions.

Through this industrial partnership, Fincantieri and STX France will create a global leader in all high-tech shipbuilding industry’s sectors, the company said. 

The financial advisor supporting Fincantieri for this transaction is BNP Paribas.