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Italian state commits 250 million euros to Finmeccanica capital

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MILAN - The Italian government is to commit 250 million euros (336 million dollars) towards a capital increase at Finmeccanica to help the aerospace group acquire DRS of the United States, Finmeccanica said on Monday.

Published: Mon 20 Oct 2008, 5:57 PM

Updated: Sun 5 Apr 2015, 2:22 PM

  • By
  • (AFP)

It added that the state, following the operation, would have a 30.2 percent stake in the company.

‘The Italian Economy Ministry has informed Finmeccancia of its engagement to apply for 31,249,988 new shares in Finmeccanica for a sum of approximately 250 million euros,’ Finmeccanica said in a statement.

The overall financial target of the capital increase is 1.2 billion euros.

The state, which currenly has 32.4 percent interest in the company, will see its stake reduced to 30.2 percent.

Finmeccanica in May reached an agreement to acquire the US electronics group DRS Technologies for about 5.2 billion dollars.



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