Hitachi says bid for Finmeccanica train-making, signal assets
By Reuters
Dec 17, 2014 04:24 AM EST
Regions
A shopper rides an escalator past a logo of Hitachi Corp at an electronics retail store in Tokyo February 3, 2014. (Photo : Reuters)
A senior Hitachi Ltd (6501.T) executive confirmed the company has bid for Italian conglomerate Finmeccanica's (SIFI.MI) train-making and rail signal assets.
Finmeccanica is selling its loss-making, train-making unit AnsaldoBreda along with its 40 percent stake in rail signaling company Ansdaldo STS (STS.MI) and said last month that Hitachi had made an offer.
Hitachi has bid for both businesses as a package, Chief Operating Officer Toshiaki Higashihara told reporters on Wednesday.
He declined to comment on details such as price although the Nikkei business daily previously reported that the offer was likely worth around $1.7 billion.
Finmeccanica said on Tuesday it had received an offer from the Chinese group Insigma for AnsaldoBreda.
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