ACEA S.p.A. (BIT:ACE) acquired 70% stake in Simam S.p.A on May 7, 2020. The economic value of the transaction, in terms of enterprise value for 100% of Simam S.p.A. is equal to €30 million. The agreement provides for the possibility to purchase additional quotas up to 100% of the company starting from 2023. The company will be fully consolidated by ACEA, with an expected annual contribution to EBITDA of around €7 million. NTCM acted as a legal advisor in this transaction. ACEA S.p.A. (BIT:ACE) completed the acquisition of 70% stake in Simam S.p.A on May 7, 2020.