South Korea's STX says to sell French unit by year-end

09 Sep, 2016

South Korea's STX Offshore & Shipbuilding plans to sell its French unit by the end of this year as the troubled company seeks a court-led debt restructuring programme, a spokesman said Thursday. The ailing firm - once the country's number four shipbuilder - filed for the restructuring in May after struggling for years with mounting losses caused by mismanagement and a slump in global demand.

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