MADRID: The general shareholders’ meeting has given the green light to the merger by absorption of Bricor (the absorbed company) by El Corte Inglés (the absorbing company), in line with the plans filed before the commercial registry.
The merger is part of a process of integration and optimisation, which began with the merger of Hipercor, of retail operations within El Corte Inglés.
Furthermore, the financial statements, management report and proposed distribution of results, in addition to the Board of Director’s management in 2018, have been approved. Manuel Pizarro, whose term of office as director at El Corte Inglés was due to end this year, has been renewed with the backing of the Shareholders’ Meeting.
Edited by Nayyar Iqbal