Nova S.r.l. made a tender offer to acquire 32.15% stake in DeA Capital S.p.A. (BIT:DEA) for approximately €130 million on December 2, 2022. Pursuant to transaction, offeror will pay €1.50 cash per share for 85,731,052 shares of DeA Capital. Prior to this transaction, De Agostini S.p.A. parent of offeror owns approximately 67.06% stake in DeA Capital and upon completion will own directly and indirectly 100% stake in it.

The offer is subject to approval of CONSOB, approval of Board of Directors of DeA Capital and De Agostini and offeror holding a greater than 90% stake in DeA Capital. Upon acquisition of a 95% stake offeror will have a right of squeeze out. As of December 29, 2022, Italy's Watchdog Suspends Term For Review Period Of Nova's Bid On DeA Capital.

As of January 19, 2023, the transaction has been approved by the regulatory approval CONSOB. The will start on January 23, 2023 and will end on February 17, 2023. And it will be the last day to accept the Offer, unless the Acceptance Period is extended, and without prejudice to the possible Reopening of the Terms. As of February 16, 2023, Fulfilment of the condition relating to reaching threshold of 90% of share capital and extension of acceptance period.

Acceptance period extended as of February 24, 2023. Intesa Sanpaolo S.p.A. (BIT:ISP) acted as a financial advisor, and White & Case LLP acted as a legal advisor to Nova S.r.l.