Equita Group S.p.A. (BIT:EQUI) entered into a binding agreement to acquire a 70% stake in K Finance Srl from Giuseppe Renato Grasso and Filippo for €7 million on July 9, 2020. Under the terms, Equita will pay €6.5 million at closing with a mix of cash and treasury shares and €0.5 million as earnout subject to the achievement of specific Net Profit’s targets for 2020 or 2021 fiscal year. The remaining 30% stake will be subject to put & call options. Equita will finance the transaction with a mix of debt and equity. K Finance will be renamed to Equita K Finance. Giuseppe Renato Grasso and Filippo Guicciardi will continue to cover their managing roles as Co-Chief Executive Officers, reporting directly to the Chief Executive Officer of the Equita Group. K Finance will continue its operations at current premises in Milan. Transaction will be subject to condition precedents, including the acquisition from K Holding of the remaining minority in K Finance. Closing is expected by July 30, 2020. The transaction is accretive for Equita in terms of Earnings Per Share. Dentons Europe Studio Legale Tributario acted as legal advisor to Equita Group S.p.A. KPMG S.p.A. acted as accountant to Equita Group S.p.A. KPMG S.p.A. acted as due diligence provider to Equita Group S.p.A. Equita SIM S.p.A. acted as financial advisor to Equita Group S.p.A. Pedersoli e Associati acted as legal advisor to K Finance Srl. Russo De Rosa Associati acted as legal advisor to K Finance Srl. K Finance Srl acted as financial advisor to K Finance Srl.