Finmeccanica's Ansaldo Trasmissione & Distribuzione sold to Tili group |
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Wed, 18 Apr 2007 16:39
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MILAN (Thomson Financial) - Italy's engineering and construction group Tili is buying an 85 pct stake in Ansaldo Trasmissione & Distribuzione, in which Finmeccanica SpA has a 30 pct stake, Finmeccanica said.Tili unit Coinfra is acquiring a 35.5 pct stake from Fondo Athena, 34.5 from Ezine SA and a 15 pct stake from Finmeccanica unit Sogepa, which intends to keep its other 15, Finmeccanica said.'The agreement foresees a commitment by the new buyer to keep the operational headquarters in Genoa and safeguard job levels for a period of three years,' it said.'Coinfra has proposed a business plan for synergies with other companies of the group, insuring, thanks to support from a leading bank, for the takeover of the present loan guarantee by Sogepa,' it said.No further financial details were provided and Finmeccanica was not immediately available to provide other details.nigel.tutt@thomson.comnt/gpCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Ansaldo STS sees 2007 FY sales up 6-7 pct versus up 10.1 pct in 2006 UPDATE 