Ansaldo Energia to carry out EUR 80m capital increase; cash likely to be used for buys - report (translated)
18 JAN 2018
Ansaldo Energia, an Italian manufacturer of power station turbines, is to carry out a EUR 80m capital increase, Italian-language daily Milano Finanza reported. The report cited market rumours claiming that the capital increase is likely to be complete by mid-April
The item added that because Ansaldo Energia is already well capitalised, the cash raised from the increase will most likely be used to make buys. The report added that Ansaldo Energia is thought to be particularly interested in buying Asian companies, given Shanghai Electric [SHA: 601727] is a key shareholder with a 40% stake.
The report said that Ansaldo Energia could also be interested in making buys in the US.
The report also said that the capital increase has nothing to do with a planned IPO. The report said that Ansaldo Energia is still looking to carry out the operation but that it will not be ready until the end of the year.
Ansaldo Energia posted a 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.
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