Falck Renewables S.p.A. (BIT:FKR) signed an agreement to acquire 60% stake in SAET S.p.A. for €5.5 million on June 16, 2021. The transaction will be financed entirely from Falck Renewables’ own resources and will be subject to the usual adjustment mechanisms. SAET will continue to serve its customers under the guidance of the current management with the confirmation of Giorgio Rossi as Chief Executive Officer. The structure of the transaction also involves the signing of a shareholders' agreement at the close and the possibility of acquiring the remaining 40% of SAET within four years. The transaction is expected to complete in second half of 2021. Falck Renewables S.p.A. (BIT:FKR) completed the acquisition of 60% stake in SAET S.p.A. on July 20, 2021.