Agrati Merges With IDeaMI
October 31, 2018
Cleary Gottlieb is representing longtime client A. Agrati S.p.A. (Agrati) in connection with its announced business combination with IDeaMI S.p.A. (IDeaMI).
The business combination will be completed by a reverse takeover, through 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. The board of directors of Agrati and IDeaMI have approved a joint merger plan, which is subject to the shareholders’ approval.
The transaction is expected to close by March 2019.
Agrati is a worldwide leader in fastening solutions for the automotive market. IDeaMI is a special purpose acquisition company (SPAC).