The sale of the French shipyard STX to the Italian shipbuilder Fincantieri was approved by the French government. The shipyard STX, located in Saint-Nazaire in Brittany, will keep one-third share to ensure the impact on decision-making on workplaces and veto rights. STX is known for the construction of luxury ocean-going ships Queen Mary2 and Normandy.
Since 2008., the majority owner of the shipyard is the South Korean shipyard, which in the meantime has announced bankruptcy. The seat of the new Italian owner is in Trieste and employs 19000 workers worldwide. Fincantieri will take over 48 percent stake, the Italian builders of military ships and submarines DCNS 12 percent and the remaining 7 percent is owned by the Italian investment company Fundazione CR Trieste.