STX OSV

STX OSV: Competition Commission of Singapore (CCS) is assessing whether Fincantieri's proposed takeover of Company may lead to a substantial lessening of competition within any mkt in Spore. CCS will assess a no of factors including competition from existing and potential competitors, and the bargaining power of customers, and will complete its assessment and make its decision known in 30-120 working days. STX OSV is a global shipbuilder of high-end OSVs, with the core business in the design and construction of customized OSVs, including platform supply vessels, anchor handling tug supply vessels and advanced offshore subsea construction vessels. Recall Fincantieri made a Mandatory Unconditional Cash Offer of $1.22/ share for the remaining shares on 21 Dec 2012, after acquiring a 50.75% stake in the Company for S$730m.