Creditors of the troubled South Korean STX Shipbuilding & Offshore group plan to pump cash into the ailing company that controls a passenger ship building yard in France and two in Finland via its STX Europe subsidiary in Oslo, news agencies report.

The company’s creditors last week agreed to pump up to KRW3 trillion in the company, the Yonhap news agency reported, while Reuters said the parties were close to an KRW2.15trillion cash injection.

“The group, whose businesses range from shipbuilding to components that go into vessels, has been trying to raise KRW2.5 trillion ($2.2 billion) by selling stakes in units as bulk shipping rates fell and ship orders tumbled,” a report by Bloombergs said.

STX Shipbuilding & Offshore has decided to sell its 66% stake in STX France and 100% holding in STX Finland as part of efforts to restore the financial health of the debt-ridden company. Last year, it sold its stake in the Singapore listed STX OSV Holding group, which owns a number of offshore services vessel builders. Fincantieri in Italy acquired the business that has since been renamed Vard.