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Aker Yards

South Korean Company Buys Major Stake in Aker Yards

South Korean shipbuilding giant STX Shipbuilding has purchased a major stake in the Norwegian shipbuilder Aker Yards.

STX, the world's seventh largest shipbuilder, acquired 39.2 percent of Aker for 560 million euros. The company is now the largest individual owner of Aker shares.

Aker Yards has 18 shipbuilding yards in eight countries, including three in Finland.

In a statement, STX said it understands how important Aker Yards is for sea transport, particularly in Norway, Finland, Germany and France.

AFP, YLE