Salini raises Impregilo stake to 92%
25 April 2013
Privately-held Italian contractor Salini has cemented its control of larger rival Impregilo, in which it now owns a 92% stake.
The news comes after a protracted takeover battle that has involved Salini ousting Impregilo’s old leadership and installing its own board, arguments over the future strategy of the combined companies, the launch of an investigation into the deal as well as legal attempts to block the takeover.
Salini has offered €4 per share for the remaining slice of Impregilo it does not already own, in a deal that is open until 2 May.
The combined companies will concentrate on targeting large, complex international projects. They estimated that, working together, both contractors could take in additional new project orders worth up to €6.4 billion between 2013 and 2017.