Destination Italia S.p.A. entered into a binding agreement to acquire Portale Sardegna S.p.A. from Massimiliano Cossu, Marco Demurtas, Acacia Travel Holding S.R.L., Flexagon Securitisations S.R.L. and other shareholders for €3.7 million.

Destination Italia S.p.A. (BIT:DIT) entered into a binding agreement to acquire Portale Sardegna S.p.A. (BIT:PSA) from Massimiliano Cossu, Marco Demurtas, Acacia Travel Holding S.R.L., Flexagon Securitisations S.R.L. and other shareholders for €3.7 million on November 25, 2022. As part of consideration, 1 Portale Sardegna share will be exchanged with 2.45 newly issued shares, a maximum of 4,039,707 ordinary shares of Destination Italia. Following the completion of the transaction, approximately 75% of the share capital of Destination Italia, as resulting from the merger, will be held by the current shareholders of Destination Italia and approximately 25% by the current shareholders of Portale Sardegna, except as reported in the following point.

The merger has been approved by the respective board of Portale and Destination. The merger is subject to the approval of the shareholders of Portale and Destination.