A2A and Linea appoint advisors for merger
A2A, the listed Italian utility, has appointed Banca Imi and Deloitte to advise on its merger with Lombardy-based utility Linea, Italian language daily Il Sole 24 Ore reported. The unsourced report said that Linea has chosen KPMG and Mediobanca.
The two sides have entered into exclusive negotiations until 31 July to reach a deal, the report noted.
A2A will take a controlling stake in Linea, the report noted.
Linea closed 2014 with losses of EUR 3m, the report continued . The item added that Linea had debts of EUR 352m in 2014, 3.7 times its EBITDA.
Sourced from print copy: page 29
Il Sole 24 Ore