Fincantieri, the rise is underway. «New underwater management | EUROtoday

Listen to the audio model of the article

He says it, together with his ordinary frankness, firstly of this interview with Il Sole 24 Ore, the primary launched after the choice to implement a capital improve of 500 million to finance the acquisition from Leonardo of the previous Wass, a jewel of the underwater protection trade that produces torpedoes and sonars. «We didn't want any capital improve to shore up the corporate, the numbers show us proper. We are launching a recapitalization to help an M&A operation and a progress undertaking. This is a transformational hub that may serve to speed up Fincantieri's push into diving.” Pierroberto Folgiero, CEO of the group since May 2022, gets straight to the point and is keen to reiterate the rationale for the double move, announced at the beginning of May, on the eve of the extraordinary meeting which on 11 June will have to approve the increase before the rush final, the timing of which, in the intentions of the CEO, must be stringent.

What are the next steps?

We are working to carry out the capital increase before the summer. The extraordinary shareholders' meeting will meet next week to decide on the operation. Then, having obtained the necessary authorizations from Consob, the board of directors will set the definitive terms of the increase, as always happens in this type of operation.

What do you expect from the recapitalization?

Our final goal is to have an investor base as balanced as doable between institutional, which ensures liquidity for the inventory, and retail which we anticipate to take part within the improve. I would be the first to consider on this undertaking.