(Alliance News) - Banca Profilo Spa announced Thursday that Arepo BP Spa, the company's controlling shareholder and banking parent company of the Banca Profilo Group, and Twenty First Capital Sas, a French alternative investment fund management company and limited partner and portfolio manager of the French-law fund Fonds Archimedes, have agreed on an extension to March 20, 2024, of the deadline for the fulfillment of the conditions precedent stipulated in the preliminary purchase and sale agreement for a number of Banca Profilo shares representing 29 percent of the share capital, net of treasury shares.

The decision follows on the heels of a request from TFC.

The conditional binding agreement with TFC had been announced last May and concerns the purchase and sale of 29 percent of Banca Profilo for EUR50.4 million corresponding to EUR0.2637 per share.

Banca Profilo's stock on Thursday closed at a par at EUR0.21 per share.

By Chiara Bruschi, Alliance News reporter

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