STX to sell STX Dalian 40% share for releasing capital crisis

2013-05-06

According to news from South Korean media, STX Group is planning to sell 40% share of its shipyard in China Dalian to release capital crisis and the group restructure.

It was said that STX Group also planned to sell the shares of other subsidiaries if it was possible.

STX Group said on May 2, “in order to realize the recovery of the main sectors such as STX Offshore & Shipbuilding, we have to reorganize the companies abroad to make sure the capital mobility.”

STX France, STX Finland and STX Dalian are most possibly sold by the group. It is expected that if the three companies are sold, the group may achieve 1.8 billion dollars available capital.

Source from : CNSS

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