Sunday May 11, 05:16 PM
Finmeccanica close to finalising DRS Tech acquisition for 3.5 bln euros - report
MILAN (Thomson Financial) - Italian aerospace and defence company Finmeccanica SpA (Milan: FNC.MI - news) is close to finalising the
acquisition of U.S. defence company DRS Technologies Inc (NYSE: DRS - news) . for nearly 3.5 billion euros, the daily Il Sole 24 Ore (Milan: S24.MI - news) said on Sunday, without citing sources.
Finmeccanica will hold a board meeting to examine the deal on Monday or Wednesday at the latest, while DRS Tech may decide on Sunday, the newspaper said.
Finmeccanica is expected to launch a capital hike to partly finance the acquisition, Il Sole said, adding the company will also have lines of credit from banks, which are being organised by Mediobanca SpA (Milan: MB.MI - news) .
In a separate article, the paper said Finmeccanica will also examine on Monday buying a 15 percent to 20 percent stake in Milan-listed Eurotech SpA (Milan: ETH.MI - news) .
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