Tinexta S.p.A. (BIT:TNXT) signed a binding agreement to acquire a 20% stake in Defence Tech Holding S.p.A. (BIT:DTH) from Comunimpresa S.R.L., Starlife S.R.L. and Ge.Da. S.R.L. for €25 million on December 28, 2022. Tinexta will pay €4.9 cash per share for approximately 5.1 million shares, representing 20% stake in Defence. The transaction will be financed with own resources. The Transaction is subject to certain conditions precedent that are normal for this type of transaction, in addition to the Golden Power authorisation and obtaining the confirmation from the Panel of Borsa Italiana and is expected to close by the first half of 2023. Tinexta received assistance in the transaction from EY, who carried out financial and tax due diligence activities, and from GOP who conducted legal due diligence and provided support with the negotiation of the contractual texts.

Tinexta S.p.A. (BIT:TNXT) completed the acquisition of a 20% stake in Defence Tech Holding S.p.A. (BIT:DTH) from Comunimpresa S.R.L., Starlife S.R.L. and Ge.Da. S.R.L. on April 17, 2023. The transaction completed upon fulfillment of all the conditions precedent, including the Golden Power authorization and obtaining confirmation from the Borsa Italiana Panel.