May 22 (UPI) -- Italian shipbuilder Fincantieri S.p.A. plans to buy a majority stake in French shipbuilder STX France, which is based on the French Atlantic coast.
The deal for the purchase of 66.66 percent of STX France, owned by STX Europe, would involve about $89 million. Fincantieri said the purchase price would be financed through its available financial resources.