Finmeccanica and Hitachi announced the closing of transactions relating to the acquisition by Hitachi regarding the business of AnsaldoBreda, with the exclusion of some revamping activities and certain residual contracts, and Finmeccanica’s entire economic interest in Ansaldo STS, equal to approximately 40% of its issued share capital.
Finmeccanica has selected Hitachi as the best industrial partner to ensure a successful long term repositioning of its Transportation business. The integration into Hitachi will secure the best possible future for the Ansaldo STS and AnsaldoBreda businesses and their employees.
As per the agreements signed on 24 February 2015 and further to the distribution of dividends of Eur 0.15 per share, announced on the 6th of March 2015, the purchase price of the Shares of Ansaldo STS amounts to Eur 9.50 per share, corresponding to a total consideration for the stake sold of Eur 761 million. Following the closing of the transactions, Hitachi will launch a mandatory tender offer for all remaining shares of Ansaldo STS in accordance with Italian law.
The total net consideration at the closing date to be paid to Finmeccanica under the purchase agreement of AnsaldoBreda going concern, including real estate assets, amounts to EUR 30 million.
As a result of these transactions, Finmeccanica Group’s Net Debt at the end of 2015 will decrease by EUR 600 million, with a capital gain (whose amount is subject to the valuation of indemnities and price adjustments) preliminarily estimated in EUR 250 million.
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