Hitachi agreed to buy Elliott's stake in Ansaldo STS

Hitachi, a Japanese multinational conglomerate company, agreed to buy Elliott's stake in Ansaldo STS, an Italian transportation company with a global presence in the field of railway signalling and integrated transport systems for passenger traffic and freight operations. The acquisition will be made through a transaction with a total value of €808m. Alistair Dormer, CEO of Hitachi's Railway Systems Business Units, said: "This acquisition of shares is a further key milestone towards realizing our ambition of becoming a global leader in total rail solutions".