Shanghai Electric has agreed to buy a 40 per cent stake in Ansaldo Energia, the Italian power equipment maker, in another sign of China’s interest in investing in the country.
Shanghai Electric, will pay ￠400m to Fondo Strategico Italiano (FSI), Italy’s state-backed investment fund, which holds 85 per cent of the turbine maker. The agreement is expected to be closed by the end of the year.
Maurizio Tamagnini, chief executive for FSI, called the move a “long-term” deal, confirming that the fund would maintain its majority stake and would “accompany Ansaldo, in the near future, to an IPO”.
Finmeccanica, the state-controlled defence company that used to own Ansaldo and holds a 15 per cent share, is due to quit the company via the IPO. “The agreement with Shanghai Electric will allow Ansaldo to have better growth perspectives,” said Mr Tamagnini, who did not rule out a capital increase, if needed.
FSI, which has share capital of ￠4.4bn, bought its shareholding in Ansaldo Energia in December in a move by Finmeccanica to reduce its debt and focus on its core activities.
The Genoa group had received other offers, including from Siemens of Germany and Doosan of South Korea.
Ansaldo and Shanghai Electric, majority-owned by the city municipality, will produce gas turbines in China to be sold on the Asian markets. A research plant will also be set up to develop gas turbine projects. The partnership is expected to create 500 new jobs.
上海电气(Shanghai Electric)已同意购入意大利电力设备制造商安萨尔多能源公司(Ansaldo Energia)40%股权，这是中国有意投资意大利的又一个迹象。
上海电气将向目前持有这家发电机厂商85%股权的政府背景的投资基金——意大利战略基金(Fondo Strategico Italiano，简称FSI)支付4亿欧元。预计协议将在今年底完成。