ASTM S.p.A. (BIT:AT) agreed to acquire an additional 19.3% stake in Sitaf Spa from Finanziaria Citta di Torino Holding S.p.A. and the Municipality of Turin for approximately €270 million on July 23, 2020. Post the acquisition, ASTM S.p.A. will hold 67.2% stake in Sitaf Spa. As part of the acquisition, ASTM S.p.A.will acquire 10.7% stake in Sitaf Spa from Finanziaria Citta di Torino Holding S.p.A. and 8.7% stake in Sitaf Spa from the City of Turin. As of December 31, 2019, Sitaf Spa has a revenue of €221 million and EBITDA of €125 million.