(Alliance News) - NB Aurora SA announced Thursday that it has signed a binding agreement to sell its entire 48.4 percent stake in Dierre Group through its subsidiary vehicle D Club Srl to the Alto Capital V fund, managed by Alto Partners SGR.

The closing of the transaction, which is not subject to conditions, is expected within the first two months of 2024.

NB Aurora, confirming its commitment to Dierre Group, has indicated that it will reinvest a portion of the proceeds from the sale - up to EUR10 million -, remaining a minority shareholder.

Founder and chairman Cav. Giuseppe Rubbiani will also proceed with the sale of his stake by reinvesting in Dierre Group with a significant minority share, along with other managers of the company.

The total value of the transaction is about EUR108 million, of which NB Aurora's share is about EUR45 million.

Dierre Group is a leader in Italy in the design, production and marketing of technologically advanced and high-impact guards and components for industrial automation with a broad and diversified customer base that includes major Italian manufacturers in the industrial automation sector.

NB Aurora on Thursday closed 37 percent in the red at EUR8.26 per share.

By Claudia Cavaliere, Alliance News reporter

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