(Alliance News) - e-Novia Spa has announced that the board of directors has approved the merger by incorporation of Measy Srl, Shiftic Srl and Stem Srl, all three wholly owned subsidiaries of e-Novia.

The transaction is part of the ongoing process of corporate reorganization, which aims to maximize synergies between different companies, products and projects of the group, going to increase its competitiveness in the market, and by streamlining a common process and optimizing the management of resources and economic-financial flows.

The stock of e-Novia closed unchanged at EUR6.45 on Friday.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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