Isagro S.p.A. (BIT:ISG) made a binding offer to acquire Phoenix-Del Srl for €3.6 million on September 17, 2020. Under the terms of transaction, Isagro will pay €2.4 million at the closing and €1.2 million after one year subject to the occurrence of certain conditions with particular reference to the obtain ability of industrial synergies. Phoenix-Del generated in 2019 sales revenues of around €5 million, with an EBITDA of around €0.3 million. Transaction is subject to customary closing conditions, including due diligence. The acquisition is expected to close by end of October 2020.