Turin and Genoa are ready to sell the Iren shares on the market, held through the joint holding company Fsu, released from the syndicate agreement which also includes the Municipalities of Emilia.
This was reported in a note by the two administrations, which hold a controlling stake in the multi-utility through FSU. At present, the shares released from the agreement are 65.863.660 and represent 5,5% of the ordinary share capital: at current prices, this means a collection of approximately 153 million euros, i.e. over 76 million each for Genoa and Turin.
Currently the same FSU controls about 35,5% of Iren. The provision, for the definitive yes, will now have to be examined by the respective municipal councils. “The operation – underlines the note – does not limit the strategies and control carried out by the Municipalities of Turin and Genoa on the activities, management, projects and development plans of the subsidiary Iren”.
The offer to the market of the transferable shares will be carried out "according to methods and timing - specify the two Municipalities in the note - which avoid a drop in the listing price due to excess supply of the share".
