MODO Group signed a purchase agreement to acquire Italia Independent S.p.A. from Italia Independent Group S.p.A. (BIT:IIG) for ?1 million on September 12, 2023. Under the agreement, MODO Group is to change its corporate name and that of its subsidiary to names other than Italia Independent. The purchase agreement signed today therefore concludes the aforementioned sale process. Jefferies acted as financial advisor to MODO and EY Advisory SpA acted as financial advisor to Italia Independent.

MODO Group completed the acquisition of Italia Independent S.p.A. from Italia Independent Group S.p.A. (BIT:IIG) on September 12, 2023.