Aurelia (Gavio Group) and Ardian: Positively completed the due diligence carried out by Ardian after the non-binding memorandum of understanding entered into by the parties
Tortona (Al), Paris, July 19th, 2018. Aurelia S.r.l., the financial holding company of the Gavio family, and Ardian, a world leading investment house, inform that the due diligence review carried out by Ardian in compliance with the provisions of the non-binding memorandum of understanding entered into by the parties last April 27th, has been successfully completed.
Following this outcome, the finalisation of the final agreements was started and it is expected to be completed in the next few weeks.
As indicated in the press release issued by the two parties last April 27th, the formalization of the aforementioned agreements is finalized to develop a strategic partnership to strengthen the ASTM/Sias Group in the infrastructure sector and provides for the incorporation of a new company to which the controlling stake in ASTM and Sias will be transferred via de-merger.
In accordance with the memorandum of understanding, Aurelia will retain sole control on the new company and, therefore, the sole control on ASTM and Sias, while the Ardian fund will acquire from Aurelia a minority stake, equal to 40%, of the new company.
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