TOKYO, Oct 30, 2015 - (ACN Newswire) - Hitachi, Ltd. (TSE:6501, "Hitachi") announced today that the conditions precedent were satisfied for the agreements for Hitachi to acquire Finmeccanica S.p.A. ([FNM.IM,] "Finmeccanica")'s signalling and rolling stock operations signed on February 24, 2015.
The agreements are for the sale and purchase of:
- the current business of AnsaldoBreda S.p.A., with the exclusion of some revamping activities and certain residual contracts, and
- the entire interest owned by Finmeccanica in Ansaldo STS S.p.A., equal to approximately 40% of the share capital.
The simultaneous closing of the transactions is expected on November 2.
About Hitachi
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society's challenges with our talented team and proven experience in global markets. The company's consolidated revenues for fiscal 2013 (ended March 31, 2014) totaled 9,616 billion yen ($93.4 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes infrastructure systems, information & telecommunication systems, power systems, construction machinery, high functional materials & components, automotive systems, health care and others. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
Source: Hitachi
Contact:
Hitachi Ltd Corporate Communications Tel: +81-3-3258-1111
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