Fincantieri plans acquisition of STX OSVNews // December 21, 2012
STX Europe has entered into a share purchase agreement whereby STX Europe has agreed to sell to Fincantieri Oil & Gas 598,851,000 shares in STX OSV Holdings Ltd, representing approximately 50.75 per cent of the issued share capital of STX OSV.
The closing of the transaction is subject to certain conditions, including third party consents. Completion of the transaction is expected to take place no later than the end of April 2013.
On satisfaction of the conditions, Fincantieri Oil & Gas will be required to make a mandatory cash offer for the remaining shares of STX OSV.