Parent company merger project

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Investors information

Parent COompany Merger Project 

 Grupo Ortiz is currently in the process of a merger project involving two of the group's companies, Empresarial Ortiz S.L. (the target company) and Ortiz Construcciones y proyectos SAU (the acquiring company).

The purpose of the merger is to simplify the legal and economic structure of Grupo "Ortiz" which includes both the acquiring company as well as the target company so as to increase the efficiency of the management and business development within both companies so they may more effectively meet the market demands.

In view of the aforementioned situation where both companies hold a "head" position in the group since GEO holds ORTIZ shares and the latter holds the shares of all of the other entities comprising the group and in addition to simplifying the legal and economic structure as mentioned, the merger aims to prevent unnecessary duplicities in their management and administration by not maintaining two companies with independent legal personalities.

In short, the Boards of Directors of GEO and ORTIZ have identified a series of synergies deriving from the merger of both companies that make this operation advisable.

Thus and in accordance with the above, the project (which is being undertaken essentially due to the deep and obvious business sense) is based on achieving the following objectives:

To take advantage of the synergies and economies of scale deriving from the integration of GEO and ORTIZ, particularly as relates to overhead cost savings so as to make joint use of their resources.
To implement a single management policy for both companies.
To avoid administrative and legal duplicities in relation to the companies' daily operations by improving their management since it will be performed by a single body.

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