Poste Italiane SpA (BIT:PST) signed a preliminary agreement to acquire Nexive Services Srl from Mutares SE & Co. KGaA (XTRA:MUX) and PostNL N.V. (ENXTAM:PNL) on November 15, 2020. Poste Italiane SpA will acquire 80% stake from Mutares SE & Co.

KGaA and 20% stake from PostNL N.V. The initial agreement was based on an enterprise value for Nexive of €60 million. The precise value of the Nexive deal, will be calculated at the end of a due diligence process. The transaction is subject to antitrust approval and other relevant conditions.

The Italian antitrust watchdog has given a preliminary approval to the deal, but has 30 days to ask for potential adjustments. The transaction has been resolved by the Board of Poste. The transaction is expected to close by January 2021.

Francesco Silva and Riccardo Bariola Bon of Lincoln International Srl acted as financial advisor to Poste Italiane.