Arab Today, arab today hitachi to buy italian railways firms for over 2bn
Last Updated : GMT 01:30:09
Arab Today, arab today
Arab Today, arab today

Ansaldo STS world's number 2 traffic signal company

Hitachi to buy Italian railways firms for over $2bn

Arab Today, arab today

Arab Today, arab today Hitachi to buy Italian railways firms for over $2bn

Hitachi-built train, travelling through south-east England
Tokyo - Arab Today

Hitachi will buy the rail and traffic signal businesses of Italy's Finmeccanica for an estimated $2.1 billion, reports said on Tuesday, as the Japanese firm looks to expand overseas and challenge major international railways firms.
The Italian defence and aerospace company has agreed to sell its rail car unit AnsaldoBreda and Ansaldo STS, the world's number two traffic signal company, to the vast Japanese conglomerate, according to reports by the leading Nikkei business daily and other major media.
The purchase is expected to be worth more than 250 billion yen ($2.1 billion), with Finmeccanica set to announce the agreement as early as Tuesday, the top-selling Yomiuri newspaper said.
"It is true that we are negotiating with Finmeccanica over the railway businesses, but the reported agreement has not been announced by our company," a Tokyo-based Hitachi spokesman told AFP.
Shares in Hitachi fell 0.81 percent to 827.9 yen on the Tokyo Stock exchange Tuesday morning following the news reports.
Hitachi and three other companies stepped forward as prospective buyers after Finmeccanica announced plans last summer to unload the two subsidiaries.
The Japanese firm came close to sealing a deal last November, but a subsequent offer from a Chinese company delayed Finmeccanica's final decision.
Under the reported 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 Nikkei said.
The Italian giant holds a roughly 40 percent stake in Ansaldo STS.
It is the latest step in Hitachi's long-running pursuit of the two companies, with Italian media reporting in March 2012 that the conglomerate was interested in buying the firms.
The acquisition will push up Hitachi's annual rail-related sales to more than 400 billion yen -- about half that of Canada's Bombardier, Siemens of Germany, or France's Alstom, the Nikkei said.
With the planned acquisition, Hitachi's rail operations, which have so far focused on Japan and Britain, will now go global and gain Italian rail car production facilities, the newspaper added.
Source: AFP

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hitachi to buy italian railways firms for over 2bn Arab Today, arab today hitachi to buy italian railways firms for over 2bn

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Russia, Iran ink economic deals

GMT 08:03 2017 Wednesday ,29 March

Russia, Iran ink economic deals
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 11:55 2017 Wednesday ,29 March

Need ‘gymspiration?’ The top fun fitness bloggers

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 05:17 2017 Wednesday ,29 March

Samsung to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday