Share capital and seats on the board of directors would be distributed equally between the two companies.
“This merger and the consequent combination of plants, products, services and know-how will result in a better and more effective response to customers’ demands and needs, as well as in higher added-value solutions offered in this highly complex market,” Colabeton said in a press release.
The proposed merger has been referred to the ECB for approval, with the ECB indicating its intention to transfer examination of the deal to the relevant Italian authorities. A final decision on the merger is expected by the end of the year.
