Finmeccanica to bag over 400 million euros by year-end from unit sale: source
MILAN (Reuters) - Finmeccanica's (SIFI.MI) board will meet on Friday to decide on an offer from state-owned agency Cassa Depositi e Prestiti to buy a 80-90 percent stake in its power engineering unit Ansaldo Energia, a source familiar with the matter said on Thursday.
Finmeccanica could raise at least 400 million euros ($545 million) from the deal which could be finalized by the end of the year, the source said asking not to be named.
"Finmeccanica will not exit totally from Ansaldo Energia but will sell around 40-45 percent for an expected value of at least 400 million euros. The closing could be done by the end of the year," the source said.
Ansaldo Energia, a Genoa-based company which produces power turbines, is 55 percent owned by Finmeccanica and the remaining 45 percent is owned by U.S. fund First Reserver.
The deal with CDP does not rule out that Doosan Heavy Industries (034020.KS), which was interested in Finmeccanica's unit, buys a stake in Ansaldo Energia in the future as part of a partnership accord, the source added.
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(Reporting by Danilo Masoni; editing by Francesca Landini)
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