MILAN, Jan 29 (Reuters) - Motorway group Atlantia’s planned takeover of Gemina, the holding which controls Rome airport operator ADR, is more likely to be in shares with no cash component in order to keep credit ratings, two sources close the matter said.
Boards of the two companies are due to meet on March 8 to approve the operation, one of the sources said.
Atlantia and Gemina, both controlled by Italian Benetton family’s holding Sintonia, have said they are in talks to merge.
A previous idea was for a cash and paper offer but an all-share option has been preferred to avoid weighing on Gemina’s debt, one of the sources said, adding a final decision has not yet been taken. (Reporting by Paola Arosio, writing by Antonella Ciancio, editing by Danilo Masoni)