Simpson Thacher recently represented STX Offshore & Shipbuilding Co., Ltd., one of the world’s largest shipbuilding companies based in Korea, and its Norwegian subsidiary STX Europe AS in the sale of a controlling stake held by STX Europe AS in STX OSV Holdings Limited, a publicly listed company on the Singapore Exchange and a leading global shipbuilder of offshore specialized vessels used in offshore oil and gas exploration and production, to Fincantieri Oil & Gas S.p.A., a subsidiary of Fincantieri-Cantieri Navali Italiani S.p.A., a state-controlled shipbuilding company based in Italy specializing in the construction of merchant, passenger, offshore and military vessels, for a consideration of approximately S$730 million (or approximately US$600 million).
The transaction was subject to approval by the Singapore Industry Council and other regulatory and other consents in Europe, Latin America and Asia. The transaction was signed on December 21, 2012 and completed on January 23, 2013.
The Simpson Thacher team included Jin Hyuk Park, Johneth C. Park and David Joo (Corporate) and David Vann and Etienne Renaudeau (Antitrust).
