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Hitachi Agrees to Buy Two Finmeccanica Rail Businesses

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Hitachi Ltd. agreed to buy Finmeccanica SpA’s rail business and a signals affiliate in its largest overseas acquisition as it seeks growth abroad.

The Japanese industrial group, which makes nuclear power equipment, rail systems and industrial machinery, will pay 773 million euros ($874 million) for Finmecannica’s stake in Ansaldo STS SpA and 36 million euros for AnsaldoBreda SpA, the companies said in a joint statement. The deal values Ansaldo STS at 1.93 billion euros, about 9.2 percent more than its market value at the Borsa Italiana close yesterday.