Business & Finance
Fincantieri Speeds Subsea Buildout With Deals to Buy Four Firms
Key Points
Fincantieri Speeds Subsea Buildout With Deals to Buy Four Firms Fincantieri SpA agreed to buy majority stakes in four underwater technology companies, boosting the Italian shipbuilder’s presence in a growing part of Europe’s military buildout. The initial €600 million ($685 million) investment includes publicly traded Next Geosolutions Europe SpA and will nearly double revenue at Fincantieri’s subsea unit to an annual running rate of more than €1.1 billion, Fincantieri said Monday in a...
Fincantieri Speeds Subsea Buildout With Deals to Buy Four Firms
Fincantieri SpA agreed to buy majority stakes in four underwater technology companies, boosting the Italian shipbuilder’s presence in a growing part of Europe’s military buildout.
The initial €600 million ($685 million) investment includes publicly traded Next Geosolutions Europe SpA and will nearly double revenue at Fincantieri’s subsea unit to an annual running rate of more than €1.1 billion, Fincantieri said Monday in a statement. Shares of state-backed Fincantieri jumped the most since October as deals are expected to boost profit.