Salini looks to expand

Africa Confidential Vol 54 No 25 | 13 December 2013
Salini has merged with a Milan-based multinational construction competitor. A Salini statement said that a September Extraordinary Shareholders’ Meeting of Impregilo SpA, a 1.9 billion euro (US$2.6 bn.) construction company listed on the Milan Stock Exchange, had approved a merger with Salini to be finalised by end of this year. Salini has an 89.95% stake in the joint enterprise. The merger follows an acrimonious proxy battle in which investors led by Salini ousted Impregilo’s Board.
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