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Gavio rules out full takeover bid for Impregilo
July 2, 2012 / 11:37 AM / 5 years ago

Gavio rules out full takeover bid for Impregilo

MILAN, July 2 (Reuters) - Impregilo’s shareholder Gavio ruled out on Monday a full takeover offer on the Italian builder as well as any accord with rival shareholder Salini.

Beniamimo Gavio, whose family controls Impregilo through motorway operator Autostrada Torino Milano but faces a challenge from Salini, said current market conditions made a takeover bid impossible.

Both Gavio and Salini each hold nearly 30 percent of Impregilo and will seek to gain control of Italy’s biggest builder at a shareholder meeting on July 12. (Reporting by Lisa Jucca)

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