Italy, Rome: Terna Group has signed the closing for the acquisition of the entire capital of Tamini Trasformatori S.r.l. (Tamini) and of its subsidiaries as part of the implementation of Non Traditional Activities.
According to the agreement, a purchase price of € 23.9 million ($ 32.6 million) will be paid. Despite Terna's limited direct financial exposure and the typical perspective of Non Traditional Activities within the Group, the Tamini acquisition provides an opportunity to increase the value of a long-running Italian manufacturer.
Within the transaction, the Tamini Group includes the subsidiaries V.T.D Trasformatori S.r.l., Verbano Trasformatori S.r.l. and Tamini Transformers USA L.L.C, reports TWST.
Tamini produces and sells industrial electrical and power transformers, owning 4 production facilities in Italy, in Legnano, Melegnano, Novara and Valdagno. Tamini registered € 119.5 million ($ 162.9 million) revenue in 2012.