Should he decide to divest 19% of the Brazilian subsidiary Ecordovias Infrastructura e Logistica, Impregilo would be able to obtain 770 million euros. A substantial sum for the non-core asset enhancement strategy that the company is following. The general contractor will convene a Board of Directors today to examine the new offer received from Primav Construcoes and Comercio revised up to 19,00 reals/share - total value of 770 million euro – and which entails new governance arrangements.
The agreement should confirm certain prerogatives on the corporate governance of the subsidiary, including the right to appoint directors and a veto power over strategic decisions. The new shareholders' agreement also provides for greater flexibility regarding the transferability of the shares compared to the already existing agreement with Primav which would simplify the process of complete disposal of the residual investment in Ecordovias, equal to 10,24% of the share capital.
Meanwhile in Piazza Affari, the Impregilo stock earns 3,62% at 3,32 euros per share, marking the largest increase in the FTSE MIB compartment.
