A. Agrati to combine business with IDeaMI in a merger worth €750m

IDeaMI S.p.A, a Special Purpose Acquisition Company (SPAC) and A. Agrati S.p.A., a worldwide leader in fastening solutions for the automotive market, announced business combination. The business combination will be completed by a reverse takeover, through the merger by incorporation of Agrati into IDeaMI. IDeaMI, Agrati and its sole shareholder Agrati Holding S.p.A. have signed a framework agreement governing, among other things, the merger worth approximately €750 million. Agrati Holding S.p.A. will remain the majority shareholder with a stake of between 62.7% and 71.1% of the share capital resulting from the Merger, while outstanding shares will be between 33.2% and 24.4%.