Fincantieri Set to Acquire Remazel Engineering in Subsea and Marine Energy Expansion

Fincantieri Set to Acquire Remazel Engineering in Subsea and Marine Energy Expansion

(IN BRIEF) Fincantieri S.p.A. is advancing its strategic development project within the Subsea and Marine Energy sectors through an agreement to acquire the entire share capital of Remazel Engineering S.p.A. from Advanced Technology Industrial Group S.A. The key details and terms of the acquisition were previously disclosed in a communication issued on December 1, 2023. This acquisition, funded entirely by Fincantieri’s own resources, is expected to be finalized in the first quarter of 2024, subject to customary conditions precedent typically associated with such transactions in the market.

(PRESS RELEASE) TRIESTE, 28-Dec-2023 — /EuropaWire/ — Fincantieri S.p.A., within the frame of the strategic development project in the Subsea and Marine Energy segments, signed an agreement for the acquisition of the entire share capital of Remazel Engineering S.p.A. (“Remazel”) from Advanced Technology Industrial Group S.A. The rationale and the main terms and conditions of the acquisition have already been made known by a communication released on 1 December 2023, which also included information about Remazel.

The acquisition, fully financed through Fincantieri’s own resources, is expected to be closed by the first quarter of 2024. Closing of the acquisition shall be subject to conditions precedent in line with market practice for this type of transactions.

Fincantieri is one of the world’s largest shipbuilding groups, the only one active in all high-tech marine industry sectors. It is leader in the construction and transformation of cruise, naval and oil & gas and wind offshore vessels, as well as in the production of systems and component equipment, after-sales services and marine interiors solutions. Thanks to the expertise developed in the management of complex projects, the Group boasts first-class references in infrastructures, and is a reference player in digital technologies and cybersecurity, electronics and advanced systems.

With over 230 years of history and more than 7,000 ships built, Fincantieri maintains its know-how, expertise and management centres in Italy, here employing 10,000 workers and creating around 90,000 jobs, which double worldwide thanks to a production network of 18 shipyards operating in four continents and with almost 21,000 employees. www.fincantieri.com

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SOURCE: FINCANTIERI S.p.A.