Finmeccanica to sell AnsaldoBreda, Ansaldo STS to Hitachi

Shares jump 4% at the opening

(ANSA) - Rome, February 24 - Italian aerospace and defense giant Finmeccanica said Tuesday it has agreed to sell its controlling stakes in Ansaldo STS and AnsaldoBreda to Japanese multinational Hitachi.
    The operation expected to conclude by year's end should bring net debt down by 600 million euros, Finmeccanica said in a statement.
    AnsaldoBreda is a rail transport engineering company and Ansaldo STS designs and manufactures railway signaling systems. Hitachi plans to purchase Finmeccanica's 40% stake of Ansaldo STS at 9.65 euros a share or 773 million euros, the company statement said.
    Shares in Finmeccanica rose 4% to trade at 11.4 euros a share at Tuesday's opening while Ansaldo STS jumped 7% to 9.45 euros a share on the news.
   

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