• Sale to Impregilo S.p.A of the stake (equal to about 40%) of Tecnimont Civil Construction SpA in the special purpose vehicle CMT, set up for the execution of the civil engineering works relating to the new Cityringen Underground of Copenhagen, for a value of approximately €15 MN

  • Sale on a 50/50 basis to Impregilo and Condotte of the stake (equal to 20%) of Tecnimont S.p.A. in COCIV Consortium, general contractor of the “Terzo Valico dei Giovi” works contract, for a value of approximately €50 MN

Milan, 17 June 2013 – Maire Tecnimont S.p.A. announces that agreements have been signed for the sale of the stakes of Maire Tecnimont Group in projects relating to infrastructure and civil engineering works.

In particular, the first transaction concerns the sale of 40% of CMT (Copenhagen Metro Team I/S), a stake held by Tecnimont Civil Construction S.p.A., subsidiary of Maire Tecnimont S.p.A., while Tecnimont Civil Construction S.p.A. may keep a nominal stake.

The total value upon transaction completion is estimated in about €15 million.

CMT is a company incorporated under the Danish laws, set up for the construction of the North and South lots of the new CITYRINGEN Underground of the cities of Copenhagen and Frederiksberg. The overall value of the contract amounts to about €1.7 billion, of which about €700 million pertaining to Maire Tecnimont Group. The enterprise association, acting as General Contractor, includes, beside Tecnimont Civil Construction S.p.A., Salini S.p.A. and for a residual stake SELI S.p.A..

The second transaction concerns the sale of the entire stake held by the subsidiary Tecnimont in COCIV Consortium (equal to 20%) to Impregilo and Società Italiana per Condotte d’Acqua, to the extent of 50% each.  COCIV acts as general contractor for the final design and construction of the Milan-Genoa high speed / high capacity railway line (so-called “Terzo Valico dei Giovi”).

The price value estimated upon transaction completion is equal to about €50 million.

It should be recalled that COCIV consortium includes Impregilo (54%), Tecnimont (20%), Condotte (21%) and CIV (5%), and the overall value of the works contracts awarded to COCIV amounts to approximately €4.6 billion.

The two transactions are subject to the occurrence of some conditions precedent, as standard practice for this type of transactions, including the release of the consent by the two clients of the aforesaid projects, the Danish client Metroselskabet I/S for the Copenhagen underground and Rete Ferroviaria Italiana (RFI) for the Milan-Genoa high speed / high capacity railway line, respectively.

The two transactions are framed in Maire Tecnimont Group financial re-organization project, which envisages the disposal of assets considered no longer strategic for the Group, in particular by valorization of infrastructure business. These transactions confirm Group’s refocusing on the core business Oil, Gas & Petrochemicals.

The Advisors of the transaction have been Banca IMI and Lombardi Molinari e Associati Law Firm.

The disposal transactions are relevant according to the parameters envisaged by Annex 3 B of Consob Issuers’ Regulation;  in this respect Maire Tecnimont informs that on 4 February 2013 the Company Board of Directors exercised its opt-out right not to draft the relevant Information Document, as allowed by Consob by resolution no. 18214 of 9 May 2012.

Maire Tecnimont SpA

Maire Tecnimont is an international leading Group in the sectors of Engineering & Construction (E&C), Technology & Licensing and Energy & Ventures with specific skills in plant engineering in particular in the hydrocarbon industry (Oil & Gas, Petrochemicals, Fertilizers) and also in Power Generation and Infrastructures. The Group is listed on the Milan Stock Exchange and is present in approximately 30 countries, controls around 45 operating companies and has about 4,500 employees, half of whom are located abroad. For further information: www.mairetecnimont.com.

Maire Tecnimont SpA

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