Gavio does not like the strategic agreement between Salini and Impregilo. Igli, the Gavio holding which holds just under 30% of the general contractor and which for months has been waging a war with the Roman group Salini - holder of a share of the same value - for control of Impregilo, feels betrayed.
Igli "expresses all his opposition and his negative judgment" with respect to thestrategic and commercial collaboration agreement approved by the Board of Directors and signed yesterday by Salini and Impregilo. According to the Tortona group, the agreement "intends to cover the impossibility of a real function and the taking of absolute control of a listed company without launching, as mandatory, a takeover bid".
In Piazza Affari, the Impregilo share gained 1,19%, to 3,218 euros per share.
For this reason, as reported by Milano Finanza, the Gavio group would be willing to appeal to the Antitrust and would be considering proceeding for one request for damages suffered to the Board of Directors. Furthermore, it seems that Igli wants to convene a meeting to submit the agreement approved by the board of directors on 25 September.
The main accusation against the agreement is that the agreement would violate “industrial secrecy and the right to privacy about future plans and business opportunities held in Impregile it and they grant to Salini an undue and ruinous advantage against Impreiglo". Finally, Igli notes that a "daily, incurable and pernicious" conflict of interest has been unleashed within the general contract which "erases Impregilo's managerial autonomy and its right and duty to operate in full independence".
