September 4, 2013 / 11:22 AM / 4 years ago

Finmeccanica reaches deal to sell Ansaldo Energia, lacks Italy ok- source

MILAN, Sept 4 (Reuters) - Italian defence company Finmeccanica and U.S fund First Reserve have agreed terms to sell a majority stake in power engineering company Ansaldo Energia to South Korea’s Doosan Heavy Industries , a source with direct knowledge of the situation told Reuters.

The draft deal places an enterprise value of between 1.2 billion euros and 1.4 billion euros ($1.8 billion) on Ansaldo Energia.

“Ansaldo Energia has its partner and it’s Doosan,” the source told Reuters, adding however that to the deal needed government approval to go through, and that was still lacking.

Last week, Industry Minister Flavio Zanonato said he was against selling Ansaldo Energia and other assets that state-owned Finmeccanica has put up for sale, preferring instead a partnership agreement.

The companies involved could not be immediately reached for comment. ($1 = 0.7601 euros) (Reporting by Massimo Gaia, additional reporting by Danilo Masoni, Editing by Luca Trogni)

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