Hitachi Rail Italy Investments Srl entered into an agreement to acquire an additional 31.8% stake in Ansaldo STS S.p.A. from Elliott International, L.P., Elliott Associates, L.P. and The Liverpool Limited Partnership, funds managed by Elliott Management Corporation for approximately €810 million
October 28, 2018
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Hitachi Rail Italy Investments Srl entered into an agreement to acquire an additional 31.79% stake in Ansaldo STS S.p.A. (BIT:STS) from Elliott International, L.P., Elliott Associates, L.P. and The Liverpool Limited Partnership, funds managed by Elliott Management Corporation for approximately €810 million on October 29, 2018. Under the terms of the agreement, Hitachi Rail Italy Investments will pay €12.7 per share to acquire 63.59 million shares of Ansaldo STS. Upon completion, Hitachi Rail Italy Investments will hold an aggregate shareholding equal to 165.13 million ordinary shares of Ansaldo, i.e. 82.57% of Ansaldo’s share capital. In a related transaction, Hitachi Rail Italy Investments Srl made a public offer to acquire the remaining 17.43% stake in Ansaldo STS S.p.A. for approximately €330 million. The transaction is not subject to any conditions. The transaction is expected to be completed within four trading days following the signing of the agreement, and therefore on November 2, 2018. Goldman Sachs International acted as financial advisor while Raimondo Premonte, Filippo Ughi, Donato Romano, Giulia Staderini, Maria Rosa Piluso and Martina Giocoladelli of Gianni, Origoni, Grippo, Cappelli & Partners and Fried, Frank, Harris, Shriver & Jacobson LLP acted as legal advisors to Hitachi, Ltd. (TSE:6501), parent of Hitachi Rail Italy Investments Srl. Matteo Pratelli Gianfranco Veneziano, and Bruno Sciannaca of Bonelli Erede Pappalardo Studio Legale acted as legal advisor to Elliott Management Corporation.
Hitachi Rail STS SpA is an Italy-based technology company engaged the railway and underground transportation sector. The Company designs signals and rail transportation systems. The Companyâs business activities are divided into two business segments: Signalling Unit and Transportation Solutions Unit. The Signalling Unit operates around designing and building rail and subway signaling systems and components. The Transportation Solutions Unit designs and produces integrated transport systems. It plans the integration of the design and construction of the technological elements that create the transport system, including equipment, signaling, power supply, telecommunications and rolling-stock, as well as any other technical items that, together with the foregoing, constitute an integrated transport system.
Hitachi Rail Italy Investments Srl entered into an agreement to acquire an additional 31.8% stake in Ansaldo STS S.p.A. from Elliott International, L.P., Elliott Associates, L.P. and The Liverpool Limited Partnership, funds managed by Elliott Management Corporation for approximately €810 million
ANSALDO STS 
