The shareholders' meeting of gemina gave the green light to merger by incorporation into Atlantia.
“It is a historic act – commented the president, Fabrizio Palenzona –. A very important company on the Italian Stock Exchange closes its business. Gemina is one of the best known and most discussed companies on the Stock Exchange, but the world goes on, changes and develops and this is part of nature".
The merger will take place on the basis of the exchange ratio set at one newly issued Atlantia ordinary share for every nine Gemina ordinary shares and one newly issued Atlantia ordinary share for every nine Gemina savings shares.
The operation was approved with approximately 73% of the total share capital and 99,9% of the share capital present at the meeting. All Funds (including UBS, Nomura, Centaurus and Amber), which represent 5% of the shareholders, voted in favour.
The objective is to achieve the industrial integration of the motorway and airport businesses under the control of a single listed holding company. Gemina controls 95,7% of Aeroporti di Roma, while Atlantia holds 100% of Autostrade per l'Italia in its portfolio.
At the end of the morning, Gemina shares lost 1,1% in Piazza Affari, while Atlantia shares lost 0,9%.
