Brief: Cofide Says Streamlining Of Group Structure Through Merger By Incorporation Of CIR Into Cofide
11/03/2019 22:15
March 11 (Reuters) - Cofide Gruppo de Benedetti SpA -
* STREAMLINING OF THE GROUP STRUCTURE THROUGH THE MERGER BY
INCORPORATION OF CIR INTO COFIDE
* COFIDE GRUPPO DE BENEDETTI SPA - MERGER WILL NOT
MATERIALLY
IMPACT ITS NET FINANCIAL POSITION AND THEREFORE ITS FINANCIAL
FIREPOWER AND INVESTMENT POLICY
* EXCHANGE RATIO HAS BEEN DETERMINED AS 2.01 COFIDE SHARES
FOR
EACH CIR SHARE
* BOARD EXAMINED AND APPROVED MERGER PLAN BY INCORPORATION
OF CIR
INTO ITS PARENT COMPANY COFIDE
* COFIDE GRUPPO DE BENEDETTI SPA - FINANCIAL PROFILE OF
ENTITY
RESULTING FROM MERGER WILL BE SUBSTANTIALLY IN LINE WITH CIR'S
* AS A RESULT OF MERGER, COFIDE WILL CHANGE ITS NAME TO "CIR
S.P.A. ‐ COMPAGNIE INDUSTRIALI RIUNITE"
* MERGER IS EXPECTED TO COMPLETE BY END OF 2019
* COFIDE GRUPPO DE BENEDETTI SPA - RODOLFO, MARCO AND
EDOARDO DE
BENEDETTI ARE MEMBERS OF COFIDE BOARD AND CIR
* COFIDE GRUPPO DE BENEDETTI SPA - RODOLFO DE BENEDETTI IS
CHAIRMAN OF BOTH COMPANIES
* COFIDE GRUPPO DE BENEDETTI- COMPANIES TO SUSPEND
RESPECTIVE
SHARE BUYBACK PROGRAMMES, AS FROM TODAY'S DATE AND UNTIL DATE ON
WHICH MERGER IS COMPLETED
Source text for Eikon: ID:nBIA2hYJFQ
Further company coverage: COFI.MI
((Reuters.Briefs@thomsonreuters.com;))