Fonsai bids farewell to his stake in the Igli holding, which owns 29% of Impregilo, the Italian construction giant. Argo Finanziaria (of the Gavio Group), Real Estate Fondiaria-Sai and Immobiliare Milano Assicurazione yesterday underwrote the purchase by Argo Finanziaria, of 8 million and 40 thousand Igli ordinary shares, held overall by the two insurance companies and corresponding to 33% of the holding. The package has been priced in total for 87 million euros.
The purchase price was 10,89 euros for each Igli share and 3,65 euros for each Impregilo share. The legal purchaser of the Igli shares by Argo Finanziaria was the subsidiary Autostrada Torino Milano Spa. The transaction is expected to take place in the first few months of 2012 and provides for a single payment, subject to authorization by the Antitrust Authority. We will also have to wait for the decision of Atlantia (Betton group), owner of the remaining 33% of Igli, to exercise or not its pre-emption right on half of the shares sold by Fonsai and Milano Assicurazione.
Le fate of Impregilo they are therefore in the hands of Atlantia. If the Benetton group company decides to assert its right, it will acquire, in addition to the 16,5% of Igli, a further 5% of Impregilo, bringing its stake to 14%. Otherwise, the Gavio family would reach 21% of Impregilo's capital, becoming the majority shareholder of the same.
In Piazza Affari, Fonsai shares gain 1,46%, Impregilo scores +0,17% and Atlantia +0,24%. Milano Assicurazioni is almost equal (+0,08%).
