Risanamento signs deed of sale of Lotto Arena with CTS Eventim

(Alliance News) - Risanamento Spa announced Tuesday that its subsidiary Milano Santa Giulia Spa has signed the deed of sale of the "Lotto Arena" with EVD Milan Srl, a company belonging to the CTS Eventim Group, listed on the Frankfurt Stock Exchange.

To date, the CTS Eventim group represents one of the leading international operators in the field of live entertainment, managing some of the most renowned event arenas in Europe, such as the Lanxess arena in Cologne, the KB Hallen in Copenhagen, the Waldbühne in Berlin and the Eventim Apollo in London.

The sale of the "Arena Lot" was entered into in execution of the binding agreement, already known to the market, signed between the parties in August 2021 and concerning the construction and management of the arena that will be able to host international and national sports and entertainment events, including, some Olympic competitions in the context of the 2026 Milan-Cortina Winter Olympics.

As is well known, the consideration for the sale is EUR20 million, plus VAT, the payment of which is governed as to EUR2 million, to be paid at the same time as the signing of the deed of sale, through the release of the so-called escrow set up in August 2021; as to EUR9 million, to be paid at the same time as the signing of the deed of sale; and as to EUR9 million, to be paid on the earliest date between the third anniversary of the date of the sale of the "Arena Lot" and the final acceptance of the Arena.

Risanamento's stock closed Tuesday down 1.8 percent at EUR0.1076 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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