MILANO (AIMnews.it) - The Boards of Directors of IDeaMI and A. Agrati have approved the business combination, through a reverse takeover transaction, a merger by incorporation, of Agrati into IDeaMI. IDeaMI, Agrati and Agrati Holding signed the agreement governing the merger. The Boards of Directors of IDeaMI and Agrati also approved the project relative to the merger. IDeaMI will convene the shareholders' meeting to resolve the transaction on November 30th, 2018 and December 3rd, 2018, respectively on first and second call. The Agrati Group is one of the world leaders in the fasteners sector for the automotive sector, with consolidated revenues in 2017 of approximately Euro 658 million (of which around 90% were generated abroad) and a 2017 adjusted Ebitda of approximately 102 million, present in Europe, North America and Asia, with 12 production sites, 12 sales & application offices and 5 logistics centres. Agrati is now wholly owned by Agrati Holding, whose controlling shareholder is Cesare Agrati. After approval by the respective shareholders' meetings, Agrati will be merged into IDeaMI which, having changed its name to Agrati SpA, will remain listed on AIM Italia, with the aim of moving to the MTA. The liquidity collected by IDeaMI at the time of listing - €250 million - will be used for the following purposes: up to a maximum of € 75 million for the acquisition of an investment in Agrati, held by Agrati Holding, and up to a maximum of € 175 million to finance the development of Agrati reinforcing the process of organic growth and external lines. For the purposes of the merger exchange, Agrati was awarded an enterprise value of approximately € 713 million, taking into account the net financial position on 31st August 2018 of approximately € 215 million and surplus assets of approximately € 8 million, resulting in an equity value of approximately € 506 million. The merger plan provides for an exchange ratio of 2.53 newly issued IDEAI ordinary shares for each Agrati ordinary share. The merger is expected to be completed by March 2019.