Impregilo and Salini builders have signed a strategic, commercial and organizational collaboration agreement. The two companies will participate jointly, presenting a single offer to the customer, in tenders of common interest. A continuous cooperation procedure will be defined with which to select the orders, applying a principle of sharing the burdens and benefits. The agreement also provides for additional acquisitions of up to 6,4 billion by 2017.
According to plans, the synergy between the two groups will serve to reduce expenses and increase market presence, bringing mutual benefits.
Salini Costruttori controls about 29% of Impregilo and Pietro Salini is the managing director of the two groups. The agreement received the favorable opinion of the Related Parties Committee with the negative vote of the director representing the majority shareholder Igli.
Impregilo stock lost more than 1,5% in mid-morning.
