September 7, 2018 / 4:35 PM / in 2 months

Leonardo says to buy Vitrociset, thwarting Fincantieri's bid

MILAN (Reuters) - Italian defense group Leonardo said on Friday it was exercising a right of first refusal over Vitrociset so as to buy the 98.5 percent of the defense and security services firm it didn’t already own.

Leonardo’s move comes after shipbuilder Fincantieri in August signed a deal to buy 98.5 of Vitrociset in a joint consortium with Mer Mec.

Reporting by Valentina Za; editing by Crispian Balmer

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