October 4, 2013 / 8:17 AM / 6 years ago

Finmeccanica agrees to sell Ansaldo Energia to state fund: official

The headquarters of Italian defence and aerospace company Finmeccanica is seen in Rome May 3, 2012. REUTERS/Max Rossi

ROME (Reuters) - Aerospace and defense group Finmeccanica SIFI.MI has reached a deal to sell a controlling stake in power engineering company Ansaldo Energia to state lender Cassa Depositi e Prestiti (CDP), a defense ministry official said on Friday.

“The sale of Ansaldo to CDP, an operation on which the government has worked, has gone through,” Roberta Pinotti, undersecretary at the Defense Ministry, told Italian radio, according to her press office.

Ansaldo Energia, a Genoa-based company which produces power turbines, is 55 percent owned by Finmeccanica and the remaining 45 percent is in the hands of U.S. fund First Reserve.

Finmeccanica’s board will meet today to decide an offer from CDP to buy an 80-90 percent stake of Ansaldo Energia, a source close to the situation told Reuters on Thursday.

Finmeccanica would raise at least 400 million euros from the deal.

Reporting by Giuseppe Fonte, writing by Danilo Masoni, editing by Stephen Jewkes

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