Ansaldo Energia likely to choose Rothschild as advisor for IPO - report (translated)
21 OCT 2017
Ansaldo Energia, an Italian manufacturer of power station turbines, is likely to choose Rothschild as financial advisor to its IPO, Italian-language daily Milano Finanza reported. The report cited rumours claiming that Rothschild had emerged as the favorite following the holding of a beauty contest over the last few weeks.
No final decision had been made, the report said. The item added that the IPO could be held in 1H18.
Cassa Depositi e Prestiti (CdP), the holding of the Italian Treasury, will divest part of its 59.9% stake in Ansaldo Energia through the IPO, the report said. The item added that CdP holds its stake in Ansaldo via CdP Equity.
As previously reported, the other main shareholder in Ansaldo Energia is Shanghai Electric [SHA: 601727], which holds a 40% stake.
Ansaldo Energia posted full-year 2016 turnover of EUR 1.25bn, an EBITDA of EUR 178.7m, an EBIT of EUR 95.99m and a net profit of EUR 60.44m.