(Alliance News) - SIF Italia Spa announced Thursday that its board of directors has resolved to "no longer consider the investment held in Visibilia Editore Spa to be strategic, also taking into account that the investment in the company was linked to a project that presupposed the entrepreneurial and strategic vision, professional skills and specific executive capabilities of Luca Giuseppe Reale Ruffino," a project that has come to an end with his passing.

The decision, the company writes, was made "also on the basis of the findings of the activity carried out by the financial advisor Accuracy appointed by the on Nov. 17."

"Since it does not constitute a strategic asset, the company does not intend to commit additional financial resources to Visibilia, but intends to fully divest the stake held in that company, in one or more solutions, at a time and in the manner that will be deemed most appropriate in the best interest of the company and other stakeholders, evaluating the divestment opportunities that may arise from time to time."

The company, therefore, the statement said, "does not intend to exercise its rights as a Visibilia shareholder to participate in and direct its ordinary management," unless it is necessary or appropriate "for the purposes of the divestment process."

On Thursday, SIF Italia's stock closed unchanged at EUR2.26 per share and Visibilia finished in the green by 1.5 percent at EUR0.17 per share.

By Chiara Bruschi, Alliance News reporter

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