IMA: approval of plan for merger by acquisition of GIMA TT

The boards of directors of IMA and GIMA TT have unanimously approved the plan for merger by acquisition of the subsidiary GIMA TT with the parent company IMA.

The aim of the operation is to create a more attractive group for investors with greater benefit for GIMA TT shareholders, to reduce the operating costs associated with the maintenance of two listed companies, to simplify the participatory and corporate governance structures and to enable the management to focus entirely on the operational management of the tobacco division.

The extraordinary shareholders’ meetings for final approval of the plan are expected to be held by 31 August 2019, while the merger will be completed by the end of 2019 at the latest.