The extraordinary general meeting of Seat Pagine Gialle has approved the merger by incorporation with Lighthouse International Company. This is what we read in a press release from the company. The operation is part of Seat's debt restructuring plan and should be concluded between September and October with the acquisition by Lighthouse of approximately 88% of the company. 5,9% of the remaining capital will be divided between the historic funds that hold Seat and 6,1% of the free float.
If the merger is not successful within the deadline – no later than 31 December 2012 – which will be identified by the Board of Directors, Seat Pagine Gialle will be put into liquidation. At that point, a board of liquidators would be appointed consisting of Silvano Corbella (President), Francesco D'Aniello and Alessandro Gallone.
This morning Seat shares opened up 0,6% in Piazza Affari.
