Hitachi Completes Purchase of AnsaldoBreda and Ansaldo STS from Finmeccanica

Finmeccanica and Hitachi announce the closing of transactions relating to the acquisition by Hitachi of rolling stock provider AnsaldoBreda S.p.A, with the exclusion of some revamping activities and certain residual contracts, and Finmeccanica's entire economic interest in rail signaling provider Ansaldo STS S.p.A., equal to approximately 40 percent 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.  With the sale of the Transportation business Finmeccanica becomes a pure Aerospace, Defense and Security player.

As per the agreements signed on 24 February 2015 and further to the distribution of dividends in March 2015, the purchase price of Ansaldo STS amounts to Eur 9.50 per share, corresponding to a total consideration for the stake sold of Euro 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 S.p.A. going concern, including real estate assets, amounts to ca. Eur 30 million.

Keywords: Rail Signalling, Transportation Business, ARC Advisory Group.