Piriou yard sells shareholding to Axa and BourbonNews // June 12, 2006
LR Fairplay reports that French shipyard Piriou, which is located at Concarneau in Brittany, has sold 80 per cent of its shares to strengthen its financial base ahead of expansion overseas.
LR Fairplay said Axa Private Equity, a subsidiary of the French insurance and banking group Axa, has acquired 40 per cent of the shares in the company, and the remaining 40 per cent has been acquired by Jaccar, the holding company of French offshore specialist Bourbon.
The Piriou family will retain 20 per cent of the company, which recently announced that it plans to construct shipyards in
Nigeria, Brazil and Vietnam at a cost of US$63 million.