Astaldi said that the aim is to enhance the value of each company’s skills and potential through the creation of industrial synergies, including of a commercial nature.
At the same time, IHI, Astaldi and Astaldi shareholders Finast and its subsidiary Finetupar International have also signed an investment agreement. Following a capital increase, IHI will have the right to acquire a significant minority stake in the Astaldi representing approximately 18% of the share capital and approximately 13% of the overall voting rights in Astaldi. Finast, directly and through Finetupar, will retain control over Astaldi, continuing to hold approximately 50.2% of the voting rights.
Astaldi had confirmed last week that it was in discussion with potential partners (link opens in new tab).
IHI Corporation is at the head of a Japanese conglomerate, listed on the Tokyo stock exchange. It has consolidated revenue of approximately €12bn (£10.5bn) and a strong presence in the infrastructure sector, with turnover of approximately €1.3bn.
Astaldi and IHI have cooperated in the past on the construction of the Osman Gazi Bridge in Turkey, the world’s fourth-longest suspension span and part of the Gebze-Orhangazi-Izmir Motorway. In January, the two companies won contract to build a suspension bridge over the Danube, in the Braila area in Romania.
The new strategic partnership is aimed at leveraging complementary business strengths and industrial skills, both in terms of geographical positioning and technological know-how, to enhance both companies’ competitive positioning in the global infrastructure market.