Fincantieri S.p.A. (BIT:FCT), Fondazione Cassa di Risparmio Trieste and DCNS SA agreed to acquire 66.66% stake in STX France SA from STX Europe ASA on January 3, 2017. The South Korean Court approved the bid on the same day and declared Fincantieri as a preferred bidder for the 48% stake in STX France SA. Government of France owns the remaining 33.34% stake in STX France and will retain its stake, post-completion. As on April 6, 2017, Fincantieri S.p.A. reached agreement in principle with the French State government, represented by Agence des Participations de l'Etat regarding the transaction and Head of terms was signed on April 12, 2017. As per the terms of the deal, Fincantieri will acquire 48% stake, DCNS SA will acquire 12% stake and Fondazione Cassa di Risparmio Trieste will acquire the remaining 6.66% stake in STX France SA. As on May 19, 2017, Fincantieri S.p.A., Fondazione Cassa di Risparmio Trieste and DCNS SA signed today a share purchase agreement to acquire 66.66% stake in STX France SA for €79.5 million. Post-completion, the French government will retain the ability to veto any significant reorganization, intellectual property transfer, partnership or acquisition abroad and any other strategy. Fincantieri is prohibited from acquiring a majority stake for at least eight years, and if Fincantieri should decide to sell its stake, France has the right of first refusal. Fincantieri will maintain jobs and activity at Saint-Nazaire. The French government gave its approval to the sale. Fincantieri is working with the Court of Seoul in order to finalize the acquisition of STX France as soon as possible. PricewaterhouseCoopers Korea acted as an accountant for STX Europe ASA. BNP Paribas SA (ENXTPA:BNP) acted as financial advisor, Philippe Serzec and Eric Doucet of Deloitte Touche Tohmatsu acted as financial due diligence advisor, Benjamin Kanovitch, Sébastien Prat, Alexander Blackburn, Marc Pittie and Pierre Honoré of Bredin Prat & Associes and Jérôme Gertler, Isabelle de La Gorce, Mathieu Gautier and Delphine Gilles of TAJ acted as legal advisors and Ramboll Environ acted as environmental advisor to the acquirers. Geoffroy Pacault, Florent Keufer and Camille Gay of PricewaterhouseCoopers Corporate Finance France acted as financial advisor while Stéphane Kraft of Ernst & Young LLP acted as financial due diligence advisor to STX Europe ASA. Philippe Debailliencourt from Taddeo acted as PR advisor in the deal. Fincantieri S.p.A. (BIT:FCT), Fondazione Cassa di Risparmio Trieste and DCNS SA cancelled the acquisition of 66.66% stake in STX France SA from STX Europe ASA on July 28, 2017.