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Stock market: Finmeccanica soars on rumors of Avio Spazio sale and Ansaldo Sts results

In recent days, the two shareholders Cinven and Finmeccanica, who respectively hold 81% and 14,3% of Avio Spazio, allegedly entrusted bnp Paribas with an exploratory mandate for the sale of the subsidiary – Ansaldo Sts closed 2012 with revenues of 1.247,8 million (+3%) and a consolidated net profit of 75,7 million, up from 73,1 million in 2011.

Stock market: Finmeccanica soars on rumors of Avio Spazio sale and Ansaldo Sts results

In Piazza Affari shines the title of Finmeccanica, which in mid-morning gained more than two half points, clearly leading the rises of the Ftse Mib. The wave of purchases on the shares of the defense group comes in the wake of some rumors reported by the Sole 24 Ore on the start of the sale of Avio Spazio

In recent days, the two shareholders Cinven and Finmeccanica, who respectively hold 81% and 14,3% of Avio Spazio, have allegedly entrusted bnp Paribas with an exploratory mandate for the sale of the subsidiary. The decision was allegedly taken after expressions of interest from some European aerospace giants: the French Safran and Thales and the Franco-German giant EADS. According to some estimates reported by the Confindustria newspaper, the value of Avio Spazio would be between 300 and 400 million euros.

They are also pushing Finmeccanica onto the Stock Exchange the results of the subsidiary Ansaldo Sts, which yesterday announced that it closed 2012 with revenues of 1.247,8 million (up 3% compared to the previous year) and a consolidated net profit of 75,7 million, from 73,1 million in 2011. 

The operating result was also positive, rising from 116,1 to 117,1 million. Orders acquired amounted to 1.492,3 million, 31% less than the previous year. The Board of Directors of Ansaldo STS has decided to propose the distribution of a dividend of 0,18 euro per share (from 0,175 euro in 2011). 

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