Bialetti Industrie S.p.A (BIT:BIA) signed a framework agreement to acquire Aeternum S.r.l. from Bialetti Industrie S.p.A (BIT:BIA) for ?5.3 million on May 2, 2023. Consideration of ?3.8 million will be paid on July 20, 2023 and earnout of ?1.5 million will be paid on achievement of specific targets. The transaction is subject to approval of Illa's shareholders. For Period ended December 31, 2022, Aeternum reported net revenue of ?12.3 million. The transaction is expected to complete on July 20, 2023. Luca Cuomo and Matteo Polli of DWF Italy and Maviglia & Partners Studio Legale Associato acted as legal advisor to Illa S.p.A.

Bialetti Industrie S.p.A (BIT:BIA) completed the acquisition of Aeternum S.r.l. from Bialetti Industrie S.p.A (BIT:BIA) on July 20, 2023.