Hitachi Limited on 23 February 2015 announced to acquire Finmeccanica Rail Businesses for 2 billion US dollar.
An Italy based company Finmeccanica has agreed to sold its rail car unit AnsaldoBreda and Ansaldo STS to the vast Japanese conglomerate. It holds a roughly 40 percent stake in Ansaldo STS.
Under the deal, Hitachi plans to first acquire all shares held by Finmeccanica in the two companies and then make a tender offer to turn the Milan Stock Exchange-listed Ansaldo STS into a wholly owned subsidiary as well.
The acquisition will push up Hitachi's annual rail-related sales to more than 400 billion yen. Hitachi's rail operation will now go global and gain Italian rail car production facilities.
Finmeccanica is the leading industrial group in the high-technology sector in Italy and one of the main global players in aerospace, defence and security. It operates in seven sectors: aeronautics, helicopters, space, electronics, defence systems, transportation and construction.
The company has offices in over 100 countries. It is partially owned by the Italian government, which holds about 30% of Finmeccanica's shares.
Hitachi is a Japanese multinational conglomerate company headquartered in Chiyoda, Tokyo, Japan. It is the parent of the Hitachi Group.
Hitachi is a highly diversified company that operates eleven business segments: Information & Telecommunication Systems, Social Infrastructure, High Functional Materials & Components, Financial Services, Power Systems, Electronic Systems & Equipment, Automotive Systems, Railway & Urban Systems, Digital Media & Consumer Products, Construction Machinery and Other Components & Systems.
Who: Hitachi Limited
When: 23 February 2015
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