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France, Italy agree ownership split on STX France shipyards - Le Monde

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France, Italy agree ownership split on STX France shipyards - Le Monde

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PARIS (Reuters) – The French and Italian governments have agreed on a 50/50 percent ownership deal of the STX France shipyards, but with a clause giving France the right to take control if needed, Le Monde newspaper reported. Le Monde reported, citing an adviser to French President Emmanuel Macron, that France could raise its stake to 51 percent if there was a problem with Italian company Fincantieri <FCT.MI>, which looks set to buy the stake in STX France. An official at Macron’s office had said earlier this week that France and Italy could reach a deal over the STX France shipyards at a meeting on Wednesday. France had clashed with Italy in July after ordering a “temporary” nationalisation of STX, cancelling a deal in which Italian state-owned Fincantieri and another Italian investor had agreed to buy a 54.6 percent stake. The French government is also keen to preserve jobs at the STX Saint-Nazaire site on France’s Atlantic Coast.

(Reporting by Sudip Kar-Gupta; Editing by Brian Love)
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