(Alliance News) - doValue Spa announced Friday that it has completed the acquisition of 100 percent of Gardant Spa, aiming to consolidate its leadership in the Italian and international markets.

The transaction, worth a total of EUR230.0 million, includes cash consideration of EUR181.0 million, the assumption of net financial debt, amounting to EUR50.4 million, and the issuance of new shares representing 20 percent of the combined entity.

Gardant, which specializes in credit management and financial services through strategic partnerships with institutions such as Banco BPM and BPER Banca, expects revenues of EUR135.0 million and Ebitda of EUR50.0 million for the current year, with 40 percent of revenues coming from non-NPL services such as UTP and asset management.

The integration with Gardant will enable doValue to accelerate the execution of its 2024-2026 business plan, focusing on revenue diversification and debt reduction.

The combination of the capabilities and platforms of both companies will enable them to compete in key segments of the credit market and realize synergies estimated at EUR15.0 million when fully operational.

The transaction was financed through a EUR240.0 million term loan facility, part of a total package of EUR526.0 million guaranteed by 14 international banks.

In addition, the capital increase, which will begin on November 25, will further contribute to the group's financial strengthening.

Tiber Investments, linked to Elliott Advisors, will hold 17.75 percent of doValue's share capital, with lock-up commitments and exclusive agreements for the Italian market.

doValue's stock is down 12 percent at EUR3.41 per share.

By Antonio Di Giorgio, Alliance News reporter

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