(ANSA) - Genoa, May 8 - Shanghai Electric Group signed a
deal Thursday to buy 40% of power engineering firm Ansaldo
Energia for 400 million euros.
The deal includes two joint ventures in China for the
production of gas turbines for Asian markets and was witnessed
by Premier Matteo Renzi who visited Ansaldo during a trip to its
head office in Genoa.
A research centre in China is also part of the deal.
In the past, Ansaldo Energia had been a target for several
firms, including a South Korean company, before about 85% of
Ansaldo was sold by Italian defence giant Finmeccanica to the
state-owned Italian Strategic Fund (FSI) late last year.
Last September, published reports suggested that South
Korea's Doosan Heavy Industries was near to reaching an
agreement with Finmeccanica to buy Ansaldo Energia.
Sources at that time had suggested a price as high as 1.4
billion euros for Ansaldo in its entirety.
Chinese group buying 40% of Ansaldo Energia
Asian conglomerate establishes joint ventures with Italian firm