SHIPPING & MARINE | Roxanne Uy, Singapore

Check out how Mayer Brown JSM worked on an Italian shipbuilder's US$1.2b acquisition of STX OSV

Fincantieri will soon become one of the five largest shipbuilders in the world after the acquisition.

Mayer Brown JSM acted as lead international counsel to Italian shipbuilder Fincantieri, the world's largest builder of cruise ships and a major player in the naval industry, on its acquisition of a 50.75% stake in Singapore-listed STX OSV.

Stephen Bottomley, Corporate & Securities partner, led the transaction and noted that this multi-jurisdictional acquisition involved legal issues in seven countries across the world.

"With the global reach of the Mayer Brown offices and our strong shipping and offshore practice, we were ideally placed to assist Fincantieri on this important strategic transaction. We look forward to building our relationship with Fincantieri further as the ship building market goes through fundamental changes,” he added.

Here's more from Mayer Brown JSM:

The total value of the transaction, including the acquisition and the mandatory cash offer to be made in compliance with the rules of the Singapore Code on Take-overs and Mergers, will amount to approximately US$1.2 billion (€900 million).

STX OSV is a major global shipbuilder, constructing offshore and specialized vessels used in the offshore oil and gas exploration & production and oil services industries.

With its acquisition of STX OSV, Fincantieri will nearly double its size to become one of the five largest shipbuilders in the world, with 21 shipyards on three different continents, nearly 20,000 employees and revenues of €4 billion.

The team included lawyers from Mayer Brown offices in Singapore, Hong Kong, Vietnam and London and, in Brazil, lawyers from Tauil & Chequer Advogados in association with Mayer Brown.

Corporate & Securities partner Stephen Bottomley led the transaction, supported by senior associate Andrew Pannell and associate Nicholas Cook.

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