Fondo Strategico Italiano‘s ceo Maurizio Tamagnini was appointed chairman of the Supervisory Board of StMicroelectronics on Friday June 13 th. The same day Didier Lombard was appointed ad vice chairman of the Supervisory Board of StM (download here the press release). The Italian-Frend giant global leader in semiconductors sector, reached 8.08 billion dollars of revenues in 2013 and has a market capitalization of 6.5 billions on the Italian Stock Exchange.
Tamagnini’s appointment has to be seen as a new committement by the Italian Government on a company which is one of its strategic partecipations, MF-Milano Finanza wrote on Saturday June 14th, The Italian Treasury Minister actually owns (through Cassa Depositi e Prestiti, which in turn also controls Fondo Strategico) a 50 pct stake in Sth Holding with the French Government owning the other 50 pct. Sth Holding in turn controls a 28 pct stake in StM.
StM might actually be on the edge of a new big acquisition and the deal might be supported by the Italian Government through an investment by the Fondo Strategico.