The proposed acquisition of a majority stake in France’s Chantiers de l’Atlantique by Italy’s Fincantieri has been delayed by the Covid-19 pandemic — but the two companies have already made a tentative start to their commercial alliance.
The merger was proposed in 2018 followed by the financial problems of Chantiers' former owner, South Korea's STX Offshore & Shipbuilding Co.
The potentially dominant position that the pair could command in cruiseship construction has been a concern for the European Commission’s competition authorities, which are expected to veto the proposed deal.
