CLIENT: Finmeccanica S.p.A.

TRANSACTION: Capital markets

DATE: March 2006

SECTOR: Industrial

Mandate: Advisory to Finmeccanica SpA for the Initial Public Offer (IPO) on the Telematic Exchange Market (Star sector) managed by Borsa Italiana of 60% of the capital of the subsidiary Ansaldo STS SpA, a company operating in the railway and underground transportation sector.

Activities performed:
assistance in the definition of the transaction;
group valuation;
assistance, together with the other consultants of the company, in the drafting of the necessary documents for the execution of the offering;
assistance in the valuation and discussion of the proposals of the global coordinator relating to the structure of the offering, structure of the underwriting syndicate, offer addressees and offer price;
assistance in the negotiation of the underwriting agreement;
coordination of the activities of the other consultants involved in the transaction.

Deal value: € 780 million (capitalisation at the offering)