Hitachi announced on October 30 that the conditions precedent were satisfied for the agreements for Hitachi to acquire Finmeccanica’s signalling and rolling stock operations signed on February 24, 2015.
The agreements are 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., equal to approximately 40% of the share capital.
The simultaneous closing of the transactions is expected on November 2.
The purchase price under the Ansaldo STS Share Purchase Agreement was 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, amounted to EUR 36 million.
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 1000, built by Ansaldo Breda
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