On July 11th, the shareholders’ meeting of the Industrial Stars of Italy 3 S.p.A. SPAC (Indstars 3) approved the business combination with the Salcef Group S.p.A.

The operation will allow Salcef to open up to the capital market: once the merger has been completed, Group shares will be listed on the stock exchange.

The Indstars 3 promoters are very satisfied that investors unanimously accepted the merger. Salcef was chosen for its high profitability, for its strong cash generation, and for the operational diversification of a consolidated business with high entry barriers.

Of the 150 million euros raised during the IPO, 100 million will be invested in Salcef to support its growth. As stated by CEO Valeriano Salciccia: “The operation strengthens our leadership and increases our presence abroad and, accompanied by the overall growth of the railway market, will be a driving force for our business mission“.