Hitachi and its wholly owned subsidiary, Hitachi Rail Italy Investments, signed an agreement to acquire the 31.79% stake Ansaldo STS, which is owned by Elliott International. The total value of the acquisition is EUR 808 million and will be made through a private transaction. The relevant settlement is intended to take place on 2 November 2018. The agreement is not subject to conditions.
The agreement involves the acquisition of 63,588,837 ordinary shares of Ansaldo, having a nominal value of EUR 0.50 each. The purchase price paid is equal to EUR 12.70 per share, amounting to an aggregate consideration of EUR 807,578,229.90 for the entire purchased shareholding.
Currently, Hitachi Rail Italy Investments is the major shareholder of Ansaldo STS and following this acquisition, Hitachi Rail Italy Investments will hold a total stake of 82.56% in Ansaldo.
“This acquisition of shares is a further key milestone towards realizing our ambition of becoming a global leader in total rail solutions,” Alistair Dormer, CEO of Hitachi’s Railway Systems Business Units said.
Ansaldo is a company whose shares are listed in the STAR segment of the Italian Electronic Stock Market (Mercato Telematico Azionario) managed by Borsa Italiana S.p.A.
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