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THE INVESTOR] French naval contractor DCNS is considering making a bid for STX France, a unit of South Korea’s bankrupted shipbuilding group, a local media outlet reported on Oct. 20.
According to the Korea Economic Daily, the French firm discussed a possible acquisition of STX France’ stake, owned by STX Offshore & Shipbuilding which filed for receivership in May.
DCNS could not be reached for comment.
On Oct. 19, the South Korean bankruptcy court that oversees the ship year’s receivership officially announced that it would sell the entire stake in STX Offshore & Shipbuilding and a 66.7 percent stake in STX France.
The two takeover deals can be packaged as one or separated into two on buyer’s request.
Given that STX’s going-concern value would be 1.26 trillion won (US$1.12 billion), the price tag for the package deal is expected to surpass 1 trillion won.
The court and Samil PricewaterhouseCoopers, the accounting firm that leads the sale, will receive letters of intent by Nov. 4.
By Park Han-na (
hnpark@heraldcorp.com)
