ROME Jan 10 Italian motorway group Atlantia's
planned takeover of Gemina, which controls
Rome airport operator ADR, will not just be cash but will also
include a "sizeable" paper component, sources close to the deal
said on Thursday.
The two companies, both controlled by the Benetton family's
holding Sintonia, said on Wednesday they were in talks to merge.
Based on a fair value of Gemina of 1.2 euros a share
indicated by several analysts, the cash outlay for Atlantia
would be of less than 700 million euros ($910 million), the
According to the sources, the operation is not expected to
endanger Atlantia's current dividend pay-out policy and the aim
is to have shareholders of both companies vote on the deal by
the end of April.
Sintonia would not tender its Gemina shares in any Atlantia
offer, sources said earlier on Thursday.
($1 = 0.7667 euros)
(Reporting By Stefano Bernabei, writing by Danilo Masoni,
editing by Stephen Jewkes)