Innolva S.P.A. agreed to acquire Intesa Sanpaolo Forvalue Spa from Intesa Sanpaolo S.p.A. (BIT:ISP) for 55 million on June 20, 2021. Under the terms, Intesa Sanpaolo will receive 25% equity shares in Innolva S.P.A. and will receive further 5% stake subject to 2025 financial performance. The closing is expected to take place in July following the fulfilment of some conditions precedent applicable for this type of transaction. Tinexta and Innolva have been assisted by PwC Strategy& as industrial advisers, PwC Deals and PwC TLS Avvocati e Commercialisti, Accounting Arm provided due diligence, Gianni & Origoni assisted on contractual matters and Mediobanca Banca di Credito Finanziario S.p.A. (BIT:MB) acted as financial advisor to Innolva. Deloitte Financial Advisory Services S.p.A. acted as financial advisor to Intesa Sanpaolo and Pedersoli e Associati acted as legal advisor to Intesa Sanpaolo.
Innolva S.P.A. completed the acquisition of Intesa Sanpaolo Forvalue Spa from Intesa Sanpaolo S.p.A. (BIT:ISP) on July 21, 2021. Intesa Sanpaolo was assisted by Monitor Deloitte as strategic advisor.