The group Salini challenges Impregilo's decision to sell 19% of Ecorodovias to Primav, arguing that the deal would lead to a potential loss of up to 800 million euros. In a note, the Roman group underlines that the Board of Directors of the construction company, "largely remodeled by the Gavio Group", acts "without carrying out tenders or in-depth analyses, demonstrating the concrete and urgent need for revocation” of the directors.
According to Salini, this decision "radically changes the strategy announced just eight weeks ago and demonstrates the willingness of the Gavio group, which exercises control over Impregilo, to disturb the forthcoming meeting meeting". Furthermore, Primav's offer to acquire 19% of Ecorodovias, "evaluated positively by the directors of Impregilo, far from realizing value, implies a potential loss of up to 800 million euros".
As for theannounced buy-back hypothesis, "is completely generic" and "hides the Gavio group's goal of exceeding the 30% limit (and locking down Impregilo) without a takeover bid", adds the Salini group, underlining that its plan "remains the only valid indisputable hypothesis for the lasting creation of industrial value and employment".
At the opening in Piazza Affari, the Impregilo stock lost almost two percentage points.
