On Air Now

Listen

Listen Live Now » 101.1 FM Green Bay, WI

Weather

Current Conditions(Green Bay,WI 54303)

More Weather »
55° Feels Like: 55°
Wind: WSW 3 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Mostly Clear 52°

Tomorrow

Mostly Sunny 78°

Fri Night

Partly Cloudy 58°

Alerts

Samsung Techwin, Doosan Heavy mull bids for Italy's AnsaldoEnergia

The headquarters of Italian defence and aerospace company Finmeccanica is seen in Rome May 3, 2012. REUTERS/Max Rossi
The headquarters of Italian defence and aerospace company Finmeccanica is seen in Rome May 3, 2012. REUTERS/Max Rossi

SEOUL (Reuters) - Two affiliates of South Korean conglomerates Samsung and Doosan said on Friday that they may make bids for AnsaldoEnergia, the power engineering unit of Italy's indebted defense firm, Finmeccanica SpA .

The two firms are precision engineering firm Samsung Techwin Co Ltd <012450.KS> and shipbuilder Doosan Heavy Industries and Construction Co Ltd <034020.KS>.

Finmeccanica is selling its 55 percent AnsaldoEnergia stake and other assets for a total of 1 billion euros ($1.3 billion) as part of a turnaround of Italy's No.2 industrial group.

"We are considering acquiring AnsaldoEnergia as a part of our plan to grow the energy equipment business, but a final decision has yet to be made," Samsung Techwin said in a filing to the stock exchange.

Finmeccanica on Wednesday appointed a new chief executive after its former CEO was arrested earlier this week for allegedly paying bribes to win a $750 million Indian contract.

($1 = 0.7495 euros)

(Reporting by Hyunjoo Jin)

Comments