Finmeccanica signed the agreement to sell the 100% of Fata S.p.A.
Finmeccanica S.p.A. signed today an agreement with DANIELI Group to sell the 100% of Fata S.p.A, active in the field of industrial plant engineering, including its subsidiaries in USA (Fata Hunter), India (Fata Engineering), China (Fata Shanghai) and UAE (Fata Gulf).
The disposal agreement does not include the 100% stake Finmeccanica owns in Fata Logistic Systems S.p.A and some assets, that will be span off before the closing.
With approx. 200 headcount and ca. 150 million euros of revenues per year, Fata is a company active in the design of turn key industrial plants (Engineering, Procurement and Construction) and has proprietary technologies in the field of steel processing plants.
The disposal of Fata by Finmeccanica marks a further step forward in the execution of the Industrial Plan, focusing and strengthening the Group in the core Aerospace, Defence and Security business.
DANIELI Group, active in the engineering of steel processing plants field, has been selected as the best industrial partner for Fata, able to ensure the Company, its employees and its current and future customers the development and enhancement of its portfolio of capabilities and technologies.
The closing of the transaction is expected in the first quarter of 2016 and is subject to standard conditions for this kind of transactions. For the transaction, Finmeccanica was assisted by UniCredit Corporate & Investment Banking as financial advisor.