(Alliance News) - Ilpra Spa on Thursday announced that it has acquired a 68 percent stake in the share capital of IDM Automotion Srl.

The transaction involves the purchase, in full from Domenico Cicchetti and Gianpietro Migliorini and for a 19 percent stake from Marco Cicchetti, of a total stake equal to 68 percent of the share capital for a consideration of approximately EUR1.5 million, which was paid in cash today through the use of available financial resources.

Ilpra is up 1.2 percent to EUR4.69 per share.

By Maurizio Carta, Alliance News reporter

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