The shareholder structure is enlarged with the entry of a new partner
Under evaluation a capital increase in 2016
Campodarsego (Padua), 26 October 2015 – Today, in the morning, an important agreement was signed by Finaid SpA, an industrial holding company headed by Mario Carraro, which controls the eponymous Group listed on the Milan Stock Exchange, and the Arduini family, entrepreneurs today at the head of several companies of the automotive and logistics sectors in South America.
As detailed in the second part of this press release, in accordance with articles 114 and 122 of Legislative Decree no. No. 58/1998 ("TUF"), the transaction involves the simultaneous sale by Finaid SpA of an equity stake of approximately 18% and the signing of a shareholders' agreement, which, by the means of a subsequent capital increase in Carraro SpA, will allow the new member to increase such participation.
"It is a very important step for the future development of the Group - said Mario Carraro, main shareholder of Finaid SpA, on the sidelines of the meeting - Thanks to this operation, in fact, we have the opportunity to accelerate the Group’s activities relaunch process ensuring the continuity through the guidance of the Carraro family".
Following the crisis of 2008 that from the threshold of one billion Euro revenue in six months brought back the Carraro Group to less than 500 millions, the company undertook in recent years a profound process of reorganization and of industrial rationalization through a plan of strong reduction of fixed costs and refocusing on its core historical business where even today it confirms its unchanged position of leadership in the markets of transmissions and gear boxes for agricultural machinery and construction equipment.
A path that is recognized today even by Riccardo Arduini, whose planned entry in the Board of Directors of Carraro SpA is confirming the potential of the Group, operating in a healthy sector and with prospect of further development in the coming years thanks to the ever growing demand for agricultural commodities and global urbanization.