British investor interested in taking over STX Shipbuilding, its French unit
Nov 15, 2016
A British investment fund has submitted a letter of intent to a local court to buy cash-strapped STX Shipbuilding Co. and its French unit up for sale, industry sources said Tuesday.The investment fund has offered to buy STX Shipbuilding and a 66.7 percent stake in its French unit, a deal valued at 1 trillion won ($852 million) in total, while French shipyard DCNS and two other foreign shipyards submitted initial bids for STX Shipbuilding only, which could fetch 100 billion won, the sources said.