Italy 's state development bank Cassa Depositi e Prestiti, or CDP, has agreed to buy into Ansaldo Energia, the energy business of Finmeccanica SpA (FNC.MI), according to the country's defense undersecretary Friday.

"The operation that the government has been working on--the acquisition of Ansaldo by Cassa Depositi e Prestiti--has come to pass," Roberta Pinotti is quoted as saying in a telephone interview with Telenord, a regional television news program, which republished her comments on its website. No financial details were disclosed.

The government "will look for new industrial partners to relaunch and expand Ansaldo's business," she added.

A spokesman for the defense undersecretary confirmed her comments.

CDP's offer to buy into Ansaldo Energia, which was widely expected, is to be approved by Finmeccanica's board when it meets at 1400 GMT, according a person familiar with the matter. CDP declined to comment.

Finmeccanica has been looking to sell its 55% stake in Ansaldo Energia for more than a year, but interest shown by foreign companies raised concerns in Rome about the potential loss of a strategic asset for the country.
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