Finmeccanica to decide soon on capital hike - CEO
May 31st, 2008 | by admin |PISA, Italy, May 31 (Reuters) - Italy’s Finmeccanica SpA(SIFI.MI: Quote, Profile, Research) said on Saturday it was deciding on the size of acapital increase to help pay for its $4 billion takeover of DRSTechnologies Inc. (DRS.N: Quote, Profile, Research).
Finmeccanica, a defence and aerospace company, said thismonth it was buying DRS, a U.S. defence communications company.Last year Finmeccanica shareholders set a 10 percent limit on acapital increase.
“We are about to decide on the amount. I think that soon wewill announce it officially,” Chairman and Chief ExecutiveOfficer Pier Francesco Guarguaglini told reporters on themargins of a company event.
He said Finmeccanica was preparing documents for an initialpublic offering for its Ansaldo Energy unit, a move that wouldhelp finance the DRS purchase.
The listing could take place by fall or perhaps by the endof the year, he said.
(Writing by Ian Simpson in Milan; editing by ChristopherJohnson)
