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Vol 54 No 25

Published 13th December 2013


Ethiopia

Salini looks to expand

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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