Deals
Fincantieri to Buy STX OSV to Add Oil-Rig Support Vessels
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Fincantieri SpA agreed to buy a controlling stake in STX OSV Holdings Ltd., the world’s biggest maker of oil-rig support vessels, for 455 million euros ($600 million) as rising energy demand stokes offshore drilling.
The Italian state-controlled shipbuilder will pay S$1.22 a share in cash for STX Group’s 51 percent holding, according to a statement today. It offered to buy out minority shareholders at the same price. OSV fell 7.1 percent to S$1.30 in Singapore trading, as the offer is at a discount to yesterday’s close.