Finmeccanica, Daewoo break off negotiations on sale of Ansaldo

Article Abstract:

Finmeccanica SpA of Italy and South Korean conglomerate Daewoo Group withdrew their negotiations on the sale of Ansaldo SpA, which is a subsidiary of the former, to Daewoo. The negotiations were called off following refusal of Finmeccanica to spend more money into Ansaldo for project financing. Finmeccanica reported the company will continue reorganizing Ansaldo, which constructs electric power facilities and other engineering projects, and seek other buyers. In the past, Fiat SpA and Siemens AG expressed interest in acquiring parts of Ansaldo, which has three divisions that include transportation, industry and energy.

Comment:

This co and Finmeccanica SpA of Italy call off their negotiations on the sale of Ansaldo SpA to this co

Power and Communication Transmission Line Construction, Electric Utility Constructn, Daewoo Corp., Electric utility construction, Finmeccanica SpA

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Fiat's holding company makes bid for Exor shares

Article Abstract:

Giovanni Agnelli & C., the holding company of Fiat SpA, tendered a $1.6-billion offer to acquire the Exor Group shares that it does not yet own. The company said that the offer is in line with its efforts to streamline its group of holding companies, although a merger for the companies it hold is not part of its plans. The success of the bid would the delisting of Luxembourg-based Exor, which has a 19% interest in Club Mediterranee SA, a 20.5% stake in Rockefeller Center Properties Inc. and 75% in Chateau Margaux.

Comment:

Tenders $1.6-bil offer to acquire the Exor Group shares that it does not yet own

Financial Holding Companies, Offices of Bank Holding Companies, Luxembourg, Exor Group S.A., Giovanni Agnelli and C.

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