Town Council. Periodic audit of investee companies approved
Milan, 20 December 2021 – The City Council approved, with 28 votes in favor and 11 abstentions, the periodic review of investee companies launched by the Council on 3 December and presented today in the Chamber by Budget Councilor Emmanuel Conte.
This is an annual survey requested by the Consolidated Law on publicly held companies of 2016: if the shares are in companies that produce goods and services that are not strictly necessary for the pursuit of the institutional objectives of the Administration, the Municipality must initiate their sale or rationalization.
The approved resolution therefore provides for "maintenance without intervention" for 12 of the 14 companies with direct participation of the Municipality of Milan (MM Spa, Amat, MilanoSport, Milano Ristorazione, Sogemi, Atm, Spv Linea M4, Sea, A2a, Arexpo, Milanese Pharmacy Company, CAP Holding).
In liquidation Expo 2015 Spa, the procedure for the sale of Air Liquide Italia Spa, which deals with the production of industrial gases, has been started: the sale of 0,45% (75.792 shares, for 75.792 nominal euros), received from the Municipality of Milan by bequest, had already been decided by the City Council in the December 2019 survey, but was slowed down by the Covid 19 emergency.
"Maintenance without intervention" also for the ten indirect shareholdings held by Palazzo Marino through Atm (in addition to the one in SPV Linea M4 already held directly by the Municipality of Milan), for two shareholdings through Cap Holding (a third is in liquidation) and for eight of the nine shareholdings through Sea: regarding the ninth, Romaimport srl, controlled at 99,26% by Astaldi, the City Council had already decided in December 2018 to sell the share held by Sea, equal to 0,23%, but the procedure has not yet been concluded.
"We have reached the fourth year of this reconnaissance activity - explained councilor Conte -, which aims to evaluate the coherence of the investments with respect to the achievement of institutional objectives. We have no findings regarding 2020, the improvement activity of the previous reconnaissances continues ".
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Updated: 20/12/2021