EEMS Italia, Gala launch preliminary contacts on possible merger

Nov 20, 2014 - Italian semiconductor maker EEMS Italia SpA (BIT:EEMS) said on Wednesday it had launched preliminary contacts with energy group Gala SpA (BIT:GALA) for a possible merger between the two companies.

Gala submitted on Wednesday a non-binding offer expressing its interest in supporting the turnaround plan of EEMS which has been struggling to keep afloat and has asked for arrangement with creditors.

EEMS and Gala are currently studying the economic and legal feasibility of the project, involving also EEMS's creditor banks in the talks, EEMS said.

In case the negotiations and studies turn out positive, Gala may file binding offers for EEMS and its unit Solsonica by mid-January 2015.

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