(Alliance News) - Italian Exhibition Group Spa announced Wednesday that it has signed an agreement to acquire 51 percent of the capital of Palakiss Srl for a consideration of about EUR1.0 million.

The acquisition also includes a call option for the purchase of the remaining 49 percent of the share capital, exercisable after 30 days from the approval of the 2024 financial statements and valid for the next three years, at a price to be determined on the basis of the average Ebitda resulting from the two financial statements approved prior to the date of exercise of the option, the company explained in a note.

Palakiss is an internationally known gold center located in Vicenza within walking distance of the city's fairgrounds. Since 1999, the company has been organizing four annual events in which Italian and international manufacturing companies participate, offering them the opportunity to sell their gold and silver products on the ready market.

Italian Exhibition Group trades in the green by 1.3 percent at EUR4.84 per share.

By Claudia Cavaliere, Alliance News reporter

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