Hitachi Group and Finmeccanica S.p.A. have announced that they have signed binding agreements for the sale and purchase of the current business of AnsaldoBreda S.p.A., with the exclusion of some revamping activities and certain residual contracts, and the entire interest owned by Finmeccanica in Ansaldo STS S.p.A. (“Ansaldo STS”), equal to approximately 40% of the share capital.
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.
The integration into Hitachi will secure the best possible future for the Ansaldo STS and AnsaldoBreda businesses and their employees, marking a fundamental step in executing the Industrial Plan of Finmeccanica, which becomes a pure Aerospace,Defence & Security company. The transactions will result in a reduction of Group Net Debt by approximately EUR 600 million and a net total capital gain of approximately EUR 250 million.
Photo: Frecciarossa high speed train in Italy, Ansaldo Breda
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