Fincantieri S.p.A. (BIT:FCT) acquired 80% stake in Team Turbo Machines from Hiolle Industries S.A. (ENXTPA:ALHIO) on July 31, 2021. The Managing Director and 20% shareholder of TTM will remain in charge of the company and will support FINCANTIERI in the recovery and development of this company.Vincent Berger, Eddy Amouri, Franck Bernauer, Maximilien Llurens, Sofia Loria, Guillaume Chabot, Olivier Masi, Camilla Spira of KPMG Avocats provided due diligence service to Fincantieri S.p.A. (BIT:FCT).

Fincantieri S.p.A. (BIT:FCT) completed the acquisition of 85% stake in Team Turbo Machines from Hiolle Industries S.A. (ENXTPA:ALHIO) for € 5.1 million on July 31, 2021. The sale agreements also provide for the possibility for FINCANTIERI S.p.A. to acquire the remaining 15% by 2024 through a combination of Put and Call options granted to the contracting parties.