Finmeccanica, Hitachi extend Ansaldo STS deal to Oct 27

October 21 (SeeNews) – Italian aerospace and defence group Finmeccanica (BIT:FNC) and Hitachi (TYO:6501) have agreed an amendment to their agreement providing for the Japanese company’s acquisition of a 40% stake in railway signalling equipment maker Ansaldo STS (BIT:STS) by October 27.

Under the amendment, Finmeccanica will communicate by that date all information regarding the shareholders’ meeting of Ansaldo STS scheduled on second call for November 2, the Italian group said.

In February Finmeccanica agreed to sell Ansaldo STS and its train-making unit AnsaldoBreda for a combined price of EUR 809 million (USD 918.8m). Hitachi had agreed to pay EUR 773 million for a 40% stake in Ansaldo STS, expecting to take full ownership later, which would cost nearly EUR 2 billion.

(EUR 1 = USD 1.136)

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