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DCNS CEO says 'very likely' will enter into STX France's capital
January 6, 2017 / 2:59 PM / a year ago

DCNS CEO says 'very likely' will enter into STX France's capital

PARIS (Reuters) - The head of French state-controlled military shipbuilder DCNS said on Friday it was “very likely” that DCNS would enter into the capital of STX France, which is in the process of being sold.

French naval shipbuilder DCNS CEO Herve Guillou poses during the flag ceremony for Egyptian BPC Anwar El-Sadat in Saint-Nazaire, western France, September 16, 2016. REUTERS/Stephane Mahe

“It is very likely that this will occur via an entry into the capital,” DCNS Chairman and Chief Executive Herve Guillou told reporters at a news briefing on Friday, adding that he expected the issue to be resolved in two to three months.

The sale of STX France, which specializes in building cruise ships at the Saint-Nazaire shipyard and is profitable, forms part of a broader sell-off of businesses following the demise of the South Korean STX shipbuilding group.

Italian shipbuilder Fincantieri (FCT.MI) has made a bid, but France - which owns 33 percent of STX France - wants to ensure that the French state remains a key stakeholder in STX France.

France owns some 65 percent of DCNS, while defense electronics group Thales (TCFP.PA) owns the rest of DCNS.

Reporting by Matthieu Protard; Writing by Sudip Kar-Gupta; Editing by Ingrid Melander

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