(Alliance News) - Yolo Group Spa on Friday announced that the boards of directors of subsidiaries Yolo Srl and Bartolozzi Assicurazioni Broker Srl have approved the merger plan for the incorporation of wholly owned subsidiary Bartolozzi Assicurazioni Broker Srl into Yolo Srl, also a wholly owned subsidiary.

The company points out that for accounting and tax purposes the merger will be effective as of Jan. 1, 2024.

In the statement released, it says the merger of the resources and activities now headed by Yolo and Bartolozzi Assicurazioni Broker will enable the development of business synergies and operational efficiencies within the strategic development plan of the group headed by Yolo.

On Friday, Yolo Group closed 2.3 percent in the red at EUR1.71 per share.

By Claudia Cavaliere, Alliance News reporter

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