Corporate mergers and acquisitions: Japan’s Hitachi said it would make an offer for Italy’s Finmeccanica railway assets – Italian News – Italy Xinhua Times, Xinhua Media Network

Xinhua Times, December 17 According to Reuters, Tokyo, December 17 – A senior executive of Japan’s Hitachi Manufacturing Co., Ltd. confirmed that the company has made a bid for the train manufacturing and track signaling assets of Italian industrial group Finmeccanica.

Finmeccanica is selling its loss-making train-making unit Ansaldo Breda, as well as a 40% stake in rail signaling company Ansaldo Breda, and said last month that Hitachi had made an offer.

Hitachi Manufacturing President and Chief Operating Officer (COO) Toshiaki Higashihara told reporters on Wednesday that Hitachi has made a package offer for the above two businesses.

He declined to comment on details such as price, but Nikkei Business News previously reported that the offer may be worth about US$1.7 billion. (End) (Compiled by Zhu Xiaojun; Reviewed by Wang Yang)