Salini Impregilo sells Todini General Construction to the Kazakhs. The transfer contract was signed, announces a note from the group, with Prime System, a Kazakh company controlled by the Zhol Zhondeushi Company, for 50 million euros. As part of the transaction – informs a note – Salini Impregilo will maintain Todini's activities in Italy and other activities in North Africa and in Eastern Europe, including Ukraine.
The sale - adds the note - will have a limited impact on the 2015 consolidated net economic result and a positive impact on the 2016 net financial position, in accordance with international accounting standards. The transaction is subject to the implementation of the Todini group reorganization activities and the customary approvals of the local National Bank and other government authorities of Kazakhstan by March 31, 2016. The sale of Todini, approved by the Salini Impregilo board of directors on March 19, 2014 , represents – indicates the group – “a further step forward towards the achievement of the strategic objectives of Salini Impregilo”.
