Stake sale to fund Ansaldo's R&D

SIMEST, which with SACE forms CDP Group’s Export and Internationalisation Center, has acquired an 11% stake in Ansaldo Energia Switzerland, a whollyowned subsidiary of Ansaldo Energia. SIMEST has also made an interest contribution against a €60m loan granted by UBI Banca, offering financial coverage for Ansaldo Energia Switzerland’s capitalisation and investment plans.

The acquisition by SIMEST of a stake in the share capital of Ansaldo Energia Switzerland will provide support for Ansaldo Energia Group’s investments in research and development, amounting to €300m in the 2016-2020 Plan. Ansaldo Energia Switzerland performs R&D activities relating to gas turbine technology (class “F” and “H”) and service work on operating gas turbines, reporting an annual turnover of about €100m. With the help of these new resources, Ansaldo Energia (one of the four global market leaders) will be able to improve standards and strengthen its product range, with the goal of extending the Group’s international reach by entering markets it does not yet serve, including the United States, and several areas in the Far and Middle East.

“The acquisition by SIMEST of a stake in the share capital of Ansaldo Energia Switzerland establishes a partnership that seals the consolidated relationship between the Center for Export and Internationalisation and Ansaldo Energia, in view of the numerous export credit, financing and factoring operations completed by SACE to support the international competitiveness of this Italian point of excellence”, said Alessandra Ricci, CEO of SIMEST.

“We greatly appreciate this operation by Simest”, said Giuseppe Zampini, Chairman of Ansaldo Energia Group, “not only for the financial participation, but most importantly for offering its support to the Ansaldo Energia Group company that is working hardest on the development of the key component in our product portfolio”.