Electronics Production | June 09, 2008
Finmeccanica to sell STM stake?
Finmeccanica may consider selling its stake in STMicroelectronics to help fund its $4 billion purchase of U.S. defence firm DRS, reports Reuters.
The company also is said to consider a capital increase of more than 1 billion euros (a public offering of about 60% of its Ansaldo Energia unit) as well as taking on debt to finance the $4 billion acquisition of DRS, Reuters said. The stake in chipmaker STMicroelectronics could raise between €230 and 240 million is the Finance Director Alessandro Pansa cited. The stake in Ansaldo Energia could bring between €800 and 900.