Fincantieri slips after report on WASS acquisition from Leonardo
09/05/2024 10:03
** Shares in shipbuilder Fincantieri FCT.MI fall as much
as 7.7%
** Italian newspaper Il Sole 24 Ore reports Leonardo
LDOF.MI agreed on a cash payment slightly above 400 million
euros to sell its submarine unit WASS
** Brokerage Banca Akros says that "the bill is higher than
expected and the size of the hypothesised capital increase – if
confirmed – exceeds the cash-out for WASS by 100 million euros"
** According to the report, the Trieste-based vessel maker
is going to carry out a 500 million euros capital hike to fund
the acquisition
** Il Sole adds that Italy's state lender Cassa Depositi e
Prestiti (CDP) intends to subscribe the capital increase with
400 million euros
** Fincantieri stock drops 5% with high volumes as of 0855
GMT, while Leonardo falls 0.9% after a strong rise on Wednesday.
(Reporting by Romolo Tosiani, Claudia Cristoferi)
((Romolo.Tosiani@tr.com))