Oct, 29 2018 19:47 JST

Source: Hitachi, Ltd.

Hitachi to Increase Stake in Ansaldo STS


TOKYO, Oct, 29 2018 - (JCN Newswire) - Hitachi, Ltd. (TSE:6501) today announced that Hitachi, Ltd. and its (indirectly) wholly owned subsidiary, Hitachi Rail Italy Investments S.r.l., have signed an agreement to acquire the 31.794 percent stake (63,588,837 ordinary shares) in Ansaldo STS S.p.A. owned by Elliott International, L.P., Elliott Associates, L.P. and The Liverpool Limited Partnership (together, Elliott) for a purchase price of Eur 12.7 per share. The acquisition will be made through a private transaction with a total value of Eur 808 million and the relevant settlement is intended to take place within four trading days following the signing of the agreement, and therefore on 2 November 2018.

Hitachi Rail Italy Investments S.r.l. is already the major shareholding of Ansaldo STS S.p.A. and, after the acquisition of the ordinary shares owned by Elliott, Hitachi Rail Italy Investments S.r.l. will hold a total stake of 82.567 percent (165,133,539 ordinary shares) in Ansaldo STS S.p.A., an Italian company whose shares are listed in the STAR segment of the Italian Electronic Stock Market (Mercato Telematico Azionario) managed by Borsa Italiana S.p.A..

Alistair Dormer, CEO of Hitachi's Railway Systems Business Units, said: "This acquisition of shares is a further key milestone towards realizing our ambition of becoming a global leader in total rail solutions."

On the date hereof, Hitachi Rail Italy Investments S.r.l. has also announced to the market, with a separate press release, the launch of a voluntary tender offer over all of the ordinary shares of Ansaldo STS S.p.A., excluding the ordinary shares of Ansaldo STS S.p.A. held, either directly or indirectly, including the shares subject to the agreement with Elliott described above, by Hitachi Rail Italy Investments S.r.l. as of the date hereof.

This press release refers to the share capital of Ansaldo STS S.p.A., with registered office in Via Paolo Mantovani 3-5, 16151, Genoa, R.E.A. No.421689, registered at the Companies' Register of Genoa, Tax Code No. 01371160662 and subject to direction and coordination of Hitachi, Ltd.


About Hitachi, Ltd.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society's challenges, combining its operational technology, information technology, and products/systems. The company's consolidated revenues for fiscal 2017 (ended March 31, 2018) totaled 9,368.6 billion yen ($88.4 billion). The Hitachi Group is an innovation partner for the IoT era, and it has approximately 307,000 employees worldwide. Through collaborative creation with customers, Hitachi is deploying Social Innovation Business using digital technologies in a broad range of sectors, including Power/Energy, Industry/Distribution/Water, Urban Development, and Finance/Social Infrastructure/Healthcare. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.


Contact:
Hitachi Ltd
Corporate Communications
Tel: +81-3-3258-1111
Source: Hitachi, Ltd.
Sectors: Daily News

Copyright ©2018 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

Related Press Release


MOU signed by Changhua County Government and Hitachi, Ltd. and Agreed to Use Changhua Port for Operation and Maintenance of Changhua Offshore Wind Farm
November 14 2018 20:06 JST
 
Suntory Beverage & Food and Hitachi Develop Production Planning System Utilizing AI through Collaborative Creation
October 31 2018 16:14 JST
 
Hitachi: Demonstration Project in Germany, Large-Scale Hybrid Power Storage System Starting to Operate in November
October 31 2018 11:17 JST
 
Hitachi and SBI Enter into Joint Venture to Accelerate Digital Payments in India
October 29 2018 15:00 JST
 
Hitachi Announces Reorganization of Industrial Equipment Business through Company Split
October 26 2018 08:55 JST
 
Hitachi Appoints Partners to Support Wylfa Newydd
October 23 2018 09:22 JST
 
Demonstration of Hitachi ICT System verifies Efficiencies in Energy and Medical IT Operations at New Delhi AIIMS Hospital
October 22 2018 06:45 JST
 
Hitachi's Heavy Ion Beam Therapy System Starts Treatment at Osaka Heavy Ion Therapy Center
October 16 2018 13:43 JST
 
Daikin and Hitachi Start Joint Demonstration Aiming to Digitalize Quality Control Know-How in Reaction Process of Chemical Manufacturing
October 12 2018 14:00 JST
 
Hitachi to Establish New Company to Foster Human Resource for the Global Rollout of the Social Innovation Business Using Digital Technologies
October 12 2018 07:09 JST
 
More Press release >>

Latest Press Release


More Latest Release >>