February 7, 2008
Fincantieri planning swoop on Aker Yards?
Italian weekly Il Mondo reports that Fincantieri has been negotiating with banks to finance a take-over of Aker Yards,
Il Mondo says the move has the support of the Finnish, Norwegian, Italian and French governments and is intended to block a takeover of Aker Yards by Korea's STX Shipbuilding, which is currently the largest shareholder in Aker Yards.
Meantime, Norwegian newspaper Dagens Naerlingslev quotes Aker Yards CFO Leif Borge as saying the global credit crunch as forcing a hold on plans for IPO's involving five of Aker Yards' Norwegian yards.
Back in December, the Aker Yard board said it would "evaluate a possible spin-off of the Offshore & Specialized Vessels business area in order to enhance shareholder values."