This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at Dificultades en las negociaciones para la integración de GAM y Hune

Difficulties in the negotiations for the integration of GAM and Hune

29/12/2011

29 December 2011

In a communiqué sent to the National Commission of Stock market, the company General for hire of Machinery, S.A. (GAM) signals that his Board of directors “has taken knowledge of the communication realised by the Group Hune in the sense that the eventual integration with said company does not result feasible in the up to now posed terms”.

In spite of the difficulties that is comporting this process of study and negotiation of the integration of both companies, initiated the past month of May, from GAM indicates that his intention is to follow working to attain an agreement. “It has to reiterate the suitability of the integration of both business groups under a new approach that can be assumed by the financial creditors. In consequence, GAM and Group Hune will follow exploring roads that make possible his integration”, concludes the communiqué.