The announced merger of the two Italian ferry companies Moby and Tirrenia received the green light from the company’s shareholders.

A statement published on the Luxembourg stock exchange’s website, the group controlled by Vincenzo Onorato says:

“Extraordinary Shareholders’ meetings of Moby S.p.A. (Moby) and of its wholly-owned subsidiary Compagnia Italiana di Navigazione S.p.A. (CIN), both held on 17 October 2018, have passed resolutions approving the reverse-merger project which provides for the merger of Moby into CIN. The reverse merger will be effective as from the date in which the last filing pursuant to Article 2504 of the Italian Civil Code will be made or from any other date stated in the deed of merger.”

The headquarters of the group is expected to be moved back from Milan to Cagliari, in Sardinia.