Italy Blocks Ansaldo Energia Sale; CDP Is Now Option

Italy Blocks Ansaldo Energia Sale; CDP Is Now Option
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Παρ, 6 Σεπτεμβρίου 2013 - 16:53
The Italian government has blocked reported plans by Finmeccanica SpA (FNC.MI) to sell the majority stake in an energy services unit to South Korea's Doosan Heavy Industries & Construction Co. (034020.SE), daily Il Sole 24 Ore reports Friday, without citing its source.
The Italian government has blocked reported plans by Finmeccanica SpA (FNC.MI) to sell the majority stake in an energy services unit to South Korea 's Doosan Heavy Industries & Construction Co. (034020.SE), daily Il Sole 24 Ore reports Friday, without citing its source.

Finmeccanica advisors are now looking at the possibility of state-controlled lender Cassa Depositi e Prestiti SpA buying a stake that stops the Koreans from controlling Ansaldo Energia SpA, writes the newspaper. It adds that the government hasn't discussed this option.

The CDP possibility involves the lender buying a stake of between 30% and 35% for between 350 million euros ($460.95 million) and EUR450 million, while Finmeccanica would keep between 20% and 25%, says the paper. Doosan could buy the remaining stake held by another shareholder.

State-controlled Finmeccanica owns 55% of Ansaldo Energia and First Reserve Corp. owns 45%.

The sale of Ansaldo Energia is part of Finmeccanica'a strategy of focusing on its core businesses, namely defense and aerospace, such as AgustaWestland helicopters.

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