(Finance) – Fincantieri has defined the main terms and conditions for the purchase of 100% of the shares of Remazel Engineering from Advanced Technology Industrial Group.
The completion of the acquisition will be subject to the occurrence of certain conditions established between the parties.
With this operation Fincantieri intends to accelerate the growth of its technological, engineering and construction skills in the offshore and subsea sectors. The operation allows the Group to acquire highly specialized capabilities in the design and supply of cutting-edge top side equipment, increasing its role as partner of the main international operators in the marine and subsea energy sector.
With Remazel, Fincantieri strengthens the offer of end-to-end solutions, also consolidating the control of after-sales activities, with particular focus on digital and logistical support services with high operational complexity.
The agreement relating to the acquisition, which is expected to be finalized by the end of the year, will provide a consideration based on an enterprise value of €78 million, subject to closing, expected during the first quarter of 2024, and typical adjustments for an operation of this type.