Fincantieri
announced
on
21
December
that
its
wholly-owned
subsidiary
Fincantieri
Oil
&
Gas
had
agreed
with
the
South
Korean
fabrication
group
to
buy
a
controlling
stake
in
the
latter
company
in
a
move
to
double
its
size
and
retain
long-term
competitiveness
in
the
offshore
support
market.
Under
a
share
purchase
agreement,
Fincantieri
is
purchasing
a
50.75%
stake
in
STX
for
a
cash
consideration
of
S$730
million
($594.9
million),
at
S$1.22
per
share.
Fincantieri
said
the
closing
of
the
acquisition
was
expected
within
the
first
four
months
of
this
year.
In
addition,
the
company
has…
