Italian protection group Leonardo is near finalizing a deal to promote its submarine unit Whitehead Alenia Sistemi Subacquei (WASS) to shipbuilder Fincantieri, Leonardo’s chief govt mentioned on Monday.
“We are talking days, not months,” Leonardo CEO Roberto Cingolani advised reporters within the port metropolis of Genoa, in remarks confirmed by a spokesperson.
The deal, anticipated to be price between 200 million and 300 million euros ($213 million-$320 million), can be a part of Fincantieri’s broader technique to develop by means of acquisitions and focus extra on the fast-growing defence sector and strengthen its place within the underwater enterprise.
Cingolani mentioned there had been a slowdown in negotiations on account of “temporary resistances” from inner managers, however added that he was in direct contact along with his counterpart, Fincantieri’s Pierroberto Folgiero, on the deal.
Both firms are state-controlled.
Financial newspaper Milano Finanza reported on Saturday that the negotiations, although at a sophisticated stage, had been being slowed by disagreements over the worth of WASS and the scope of property and workers lined by the deal.
($1 = 0.9382 euros)
(Reuters – Reporting by Giulia Segreti; Editing by Alvise Armellini and Mark Potter)
