Intred S.p.A. (BIT:ITD) signed a binding agreement to acquire Connecting Italia S.r.l. from Aliedo S.R.L for ?4 million on January 29, 2024. As reported, the consideration consists of a fixed amount of ?3.6 million, subject to adjustment based on Connecting's net financial position at the date of execution; and a variable and contingent amount, equal to a maximum aggregate amount of ?0.4 million, which will be due to Aliedo subject to Connecting achieving set EBITDA and turnover targets during the financial year 2024 ("Earn-Out").Intred will fund the whole transaction with its own resources. Completion of the acquisition is subject to, inter alia: (i) Aliedo's complying with certain preexecution commitments; (ii) Connecting's obtaining from to the Ministry the green light to transfer to third parties the overall authorisation for electronic communication networks and services, as well as (iii) obtaining the green light concerning the Golden Power regulation. The transaction is expected to close in end of April 2024.

Gianni & Origoni acted as legal advisor, BDO Italia handled financial due diligence, Studio Associato Palini&Bergamini dealt with labour and social security due diligence and STS Legal acted as tax advisor to Intred. ADVANT NCTM acted as legal advisor, while TBADVISOR handled the financial and tax aspects of the deal for Aliedo.