MILAN, March 8 Italian highways group Atlantia
and sister company Gemina, which owns Rome
airports operator ADR, have agreed the terms of their planned
merger, the companies said on Friday.
In a joint statement, the companies, both controlled by
infrastructure holding Sintonia, said the all-paper deal entails
a share swap ratio of 1 newly issued Atlantia share for every 9
Gemina ordinary or savings share.
No cash component is envisaged by the deal, which is
expected to be finalised by the end of 2013, it said.
A first shareholder meeting to approve the operation will be
held on April 30. Holders of Gemina savings shares will meet the
day before, it said.
Sintonia, which is controlled by Italy's Benetton family,
will have a stake of 45.6 percent in the new group.
(Reporting By Danilo Masoni, editing by Stephen Jewkes)