(Alliance News) - Fos Spa on Friday announced that the deed of merger by incorporation of the wholly owned companies Fos Greentech Srl and Technology and Groupware Srl has been finalized, with an effective date of June 1, 2023.

"The merger is part of the corporate redefinition process of the group headed by FOS, which had already begun in 2020 with the incorporation of the subsidiary Sesmat, aimed at simplifying its structure and better exploiting its operational, administrative and corporate synergies. The merger will allow further rationalization and optimization of decision-making levels, resource management and structural costs, but also an elimination of corporate, accounting, tax and administrative duplications and overlaps," the company explained in a note.

On Friday, FOS closed in the green by 1.2 percent at EUR3.40 per share.

By Claudia Cavaliere, Alliance News reporter

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