Green light for the merger by incorporation of Gemina into Atlantia which will create a large national and international operator in motorway and airport infrastructure. The respective boards of directors of Atlantia and Gemina yesterday approved the project which will be submitted to the extraordinary shareholders' meeting on 30 April and which will be implemented by 2013 on the basis of a swap of one newly issued Atlantia ordinary share for every nine of Gemina without cash compensation.
The operation, which represents one of the major Italian mergers, completes the reorganization of the Benetton group which will be the controlling shareholder with 45,6% of the shares of the holding which will remain the only one listed on the Stock Exchange.
The new holding, which will continue to be called Atlantia, will control 100% of Autostrade (5 km of toll motorways, of which 3 in Italy and 2 abroad) and 96% of Aeroporti di Roma (AdR), which manages the first airport Italian with 41 million passengers and has an airport development program that is the most important in Europe.
Gemina's board of directors also confirmed AdR's top management for the next three years. Fabrizio Palenzona will remain president and Lorenzo Lo Presti will be the managing director.
