(Alliance News) - Finlogic Spa announced Friday that the conditions relating to the takeover bid that Credem Private Equity SGR Spa will launch to take over the entire capital of Finlogic have come true.

The takeover bid will be launched through the vehicle Argo Spa, which has signed with Crèdit Agricole Italia Spa and BPER Banca Spa a binding financing agreement under which the two financing banks have committed to make available to Argo part of the resources necessary for it to meet its financial commitments related to the transaction.

The other conditions precedent related to the launch of the takeover bid have also been fulfilled and, therefore, it will be possible to proceed with the transaction, which involves the purchase - by Credem - of Finlogic shares at EUR12.00 each.

Finlogic's stock closed Friday up 0.4 percent to EUR11.80 per share while Credem's stock gained 0.5 percent to EUR8.18.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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