Printer Friendly

Finmeccanica, DCNS, Thales may tie up torpedo, sonar assets.


Italian aerospace and defence group Finmeccanica (BIT:FNC) and French defence groups DCNS and Thales (EPA:HO) are discussing a combination of their torpedo and sonar operations, Italian daily Il Sole 24 Ore wrote on Tuesday.

According to the daily, the parties would combine the assets in two separate companies, one to include the torpedo businesses which would be 51% controlled by Finmeccanica with DCNS and Thales owning the remaining stake, and the second entity to include the sonar operations with Thales holding 51% and Finmeccanica the rest.

The torpedo company is seen generating EUR300m (USD388.5m) in annual revenues, while the sonar company is expected to have annual revenues of EUR200m, the daily said.

Finmeccanica refused to comment on the report when contacted by Agence France Press.

Thales has 25% of DCNS, while the French government owns the other 75%, AFP said.

Country: ; France; Italy

Sector: Aerospace/Defence

Target: Finmeccanica, DCNS, Thales torpedo, sonar assets

Type: Merger

Status: Talks

COPYRIGHT 2010 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2010 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M & A Navigator
Date:Jul 20, 2010
Previous Article:RBS gets three bids for WorldPay from private equity firms.
Next Article:Hewitt Associates to buy investment advisor EnnisKnupp.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters