After rumours emerged that the EU antitrust authorities started a further in-depth analysis of the Fincantieri/Chantiers de l’Atlantique transaction, Fincantieri released a statement disapproving such rumours.
Fincantieri expresses its firm disapproval of such decision, if confirmed, particularly in case it were based on the alleged reduction of the European players from three to two, as previously reported. Following the transaction, there would still be three cruise shipbuilders in Europe, as opposed to the current four
the company said, adding that these rumours have also negatively affected its share price.
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Namely, after the European Commission conducted a preliminary examination of the transaction, the competition authority allegedly decided to continue with a full-scale antitrust investigation. This was based on concerns that the deal would affect competition within the European Union by reducing the number of competitors to two, according to Reuters.
In February 2018, Fincantieri signed an acquisition deal for Chantiers de l’Atlantique, former STX France. According to the agreement, Fincantieri will claim 50% ownership of Chantiers de l’Atlantique, with a further 1% to be borrowed from the French state. The latter will assume 33.34%, with Naval Group 10%, company employees up to 2.40% and local companies up to 3.26%.
