Reorganization of the chain of control upstream of Saras, with the division of shares between the two Moratti brothers. The board of directors of Angelo Moratti sapa of Gian Marco Moratti and Massimo Moratti, the limited partnership which holds, inter alia, 50,02% of Saras, has approved the project for the total non-proportional demerger of Angelo Moratti itself in favor of two new constitution which will be wholly owned, respectively, by Gian Marco Moratti and Massimo Moratti and their sons who are currently members of the family "safe".
“As a result of the demerger – reads a press release – the entire assets of Angelo Moratti, including the shareholding in Saras, will be assigned to the beneficiary companies on an equal basis and Angelo Moratti will be dissolved”.
The demerger will take effect from 1 October 2013. To guarantee “absolute continuity of control of Saras”, the beneficiary companies will sign “a shareholders' agreement which provides for the joint exercise of the voting rights relating to Saras shares and that each beneficiary company may not transfer these shares to third parties, in whole or in part, without the consent of the other".
Furthermore, the shareholders of the beneficiary companies will sign "a shareholders' agreement concerning the respective shares held in the beneficiary companies which provides for the non-transferability to third parties, in whole or in part, of these shares".
