The acquisition of AnsaldoBreda and Ansaldo STS by Hitachi is cleared

The European Commission has approved under the EU Merger Regulation the acquisition of sole control over AnsaldoBreda S.p.A. and Ansaldo STS S.p.A. by Japanese conglomerate group Hitachi Ltd. AnsaldoBreda manufactures railway and mass transit vehicles, while Ansaldo STS produces signalling and integrated transport systems for passenger traffic and freight operation. The Commission concluded that the proposed transaction would raise no competition concerns as there are no or only minor overlaps between the companies’ activities in the European Economic Area (EEA).
The purchase price under the Ansaldo STS Share Purchase Agreement is EUR 9.65 per Ansaldo STS share, resulting in a total consideration of EUR 773 million. The total net consideration to be paid to Finmeccanica for the current business of AnsaldoBreda, including the real estate assets, amounts to EUR 36 million.