Salini considering Impregilo takeover
Construction firm Salini is considering a takeover of Impregilo.
Italian building firm Salini may be considering hiring negotiation consultants, as it is reportedly considering a takeover of rival enterprise Impregilo if they cannot come to an agreement on a merger.
This is according to Reuters, which noted Salini has already built up a 15 per cent stake in the company in recent months, although the Gavio family, which jointly controls Impregilo with the Bennetons, opposes these acquisition intentions.
Chief executive of Salini Pitero Salini confirmed in an interview with La Reppublica's Affari & Finanza supplement in December that the firm is investigating how to merge with Impregilo in order to establish an organisation that is prepared for the global marketplace.
A takeover would be likely to result in Impregilo selling its stake in the Fisia engineering unit and Brazilian motorway specialists Ecorodovias.
"Salini is absolutely open to involving the Gavios. It would be natural for everyone to consider other proposals that can pave the way for an agreement," an anonymous source told Reuters.
Posted by Ron Maverick
Source: Reuters, January 24th