The Salini Impregilo Merger takes place within the context of a broader industrial and strategic plan. This was promoted by the Salini Group in 2011, and was aimed at creating a national champion in the global infrastructure sector, with shares listed on Mercato Telematico Azionario, organised and operated by the Italian Stock Exchange “Borsa Italiana S.p.A.”
The new Group will be among the leading civil engineering operators and among the largest national industrial companies in the world. It will be better placed to compete with its key rivals, supported by economies of scale, size and a complimentary geographic and sector presence.
The Merger marks the successful conclusion of one of the most notable proxy battles in Europe in 2012 with the merger having been supported by individual and institutional investors and activists. This was followed by a voluntary public tender offer promoted by Salini and concluded in April 2013.
Specifically, the Merger forms the basis for the full realisation of the benefits of the integration, partly achieved previously via the strategic commercial and management collaboration agreement. The agreement was entered into, between Impregilo and Salini Costruttori S.p.A, the sole shareholder of Salini, on 27 September 2012.