Italian Hera Inks Agreement to Buy 25% in Aimag

M & A Navigator › June 11, 2010

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Summary

Italian utility Hera (BIT:HER) said on Tuesday it had agreed to buy 25% in multiutility Aimag for EUR35m (USD52.6m). Following the agreement, Aimag's shareholders' meeting chaired by Massimo Michelini elected two directors from Hera - president Tomaso Tommasi di Vignano and chief executive Maurizio Chiarini. Hera will name one of them deputy chairman of Aimag. Hera won the tender for the purchase of 25% in Aimag, operating in the provinces of Modena and Mantua, at the start of October. The buyer said then that it expects to complete the acquisition by mid-November.

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Italian Hera Inks Agreement to Buy 25% in Aimag

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