Atlantia, Gemina boards to approve merger terms Friday: sources
ROME/MILAN (Reuters) - The boards of Italian motorway company Atlantia (ATL.MI) and Gemina GEMI.MI, which owns Rome airport operator ADR, are expected to approve terms of their planned merger on Friday, sources close to the situation told Reuters.
The all-paper deal, which will create one of the biggest European infrastructure groups, entails a share swap ratio of around one Atlantia share for every nine Gemina shares, the sources said.
Atlantia declined to comment.
On Thursday, Atlantia shares ended up 3.2 percent at 12.74 euros, and Gemina rose 1.5 percent at 1.385 euros, giving a swap ratio of one to 9.2.
Gemina was advised by UniCredit and Barclays, while its independent advisers were Banca Leonardo and Credit Suisse. Atlantia was advised by Goldman Sachs, Banca IMI, Mediobanca and Royal Bank of Scotland.
(Reporting by Paola Arosio and Stefano Bernabei)
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