July 2, 2012 / 11:21 AM / in 5 years

Impregilo to use reserves, sale revs for buyback

MILAN, July 2 (Reuters) - A buyback of Impregilo’s shares for up to 20 percent of the builder would be funded through reserves worth 200 million euros and proceeds from the partial sale of a stake held in Brazil’s Ecorodovias, an executive at Gavio group said on Monday.

The Gavio group indirectly controls Impregilo, Italy’s biggest builder, through its Autostrada Torino-Milano motorway operator.

Autostrada Torino-Milano Chief Executive Alberto Sacchi also said that the share buyback would not prevent Impregilo from distributing a possible extraordinary dividend.

Reporting by Lisa Jucca

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below