A2A signs letter of intent to merge with Linea
A2A, the listed Italian utility, has signed a letter of intent with Lombardy-based utility Linea for a possible merger, Il Sole 24 Ore reported. The two sides have entered into exclusive negotiations until 31 July to reach a deal, the Italian- language daily noted citing a company statement.
A2A will take a controlling stake in Linea, the report noted citing unspecified rumours.
Linea closed 2013 with an EBITDA of EUR 95m and net debts of EUR 358m.
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Il Sole 24 Ore