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Immobiliare Grande approves merger of 2 units

Immobiliare Grande Distribuzione SIIQ SpA's board approved the merger of two of its wholly owned companies during an extraordinary general meeting.

The merger of IGD PROPERTY SIINQ S.p.A. and PUNTA DI FERRO SIINQ S.p.A. into a new entity called IGD SIIQ S.p.A. aims to establish "a single, more rational and economically viable corporate structure" through a streamlining and simplification program.

The merger deed will be signed according to the time limits advised by the law, according to a company release.