Gammon India has acquired 50 per cent
stake in Italy- based Sofinter SpA, which is a holding company of Ansaldo
caldaie SpA.
Gammon made this acquisition through
its offshore step-down subsidiary. This is the company's third overseas
acquisition in the Italian market in 2008, which will enable it to take up the
construction of power plants.
In early 2008, Gammon had acquired 50
per cent shares in Sadelmi of Italy for 7.5 million euros (about Rs.50 crore)
and steam turbine manufacturer Franco Tosi Meccanica for 40 million euros (about
Rs.250 crore).
Also See:
Gammon India
looking for majority stake in Italian company (16-Jul-08)