Italy's Gala and EEMS in early talks on possible tie-up

Ops Italia SpA

19/11/2014 15:11

MILAN, Nov 19 (Reuters) - Italy's EEMS  EEMS.MI  and Gala 
Group  GALA.MI  said in separate statements on Wednesday 
preliminary talks had begun over a possible merger of the two 
companies. 
    Gala Holding said it had not made any binding offer yet for 
EEMS which is currently undergoing a debt restructuring package 
under Italian law. 
    A merger with EEMS would allow it to develop its power sales 
and energy efficiency businesses as well as move onto Milan's 
main stock market segment, Gala said. 
    Shares in EEMS were suspedend from trading after rising 9.4 
percent. Shares in Gala were down 1.4 percent by 1531 GMT. 
     
 
 (Reporting by Stephen Jewkes) 
 ((stephen.jewkes@thomsonreuters.com; +39.0266129695; Reuters 
Messaging: stephen.jewkes.thomsonreuters.com@reuters.net)) 
 
Keywords: EEMS ITALIA M&A/GALA