September 08, 2008

STX Shipbuilding buys 39% stake in Aker

Yonhap reported that South Korean shipbuilder STX Shipbuilding Co has purchased a major stake in a Norwegian shipyard for USD 800 million in an effort to branch out into the European market.

STX Shipbuilding Co in a regulatory filing said that it has bought a 39.2% stake or 44.56 million shares in Aker Yards ASA.