(Alliance News) - The ordinary shareholders' meeting of Rocket Sharing Company Spa on Wednesday approved the rever take-over transaction involving Rocket's acquisition of 51 percent of the share capital of Stantup Service Srl.

Stantup Service is a leading consulting firm in the start-up of Resellers in the free energy market and in the outsourced execution of all processes in the energy supply chain, from procurement to billing.

"The acquisition deal is found to be strategic and synergistic for Rocket not only for utility customers but also for marketplace affiliates as it will allow the B2C platform to be complemented by the offering of new services for B2B customers by providing an additional technological solution that will allow to verticalize the offering and generate economies of scale on energy and gas and in the future also on other commodities," the company explained in a note.

The transaction is scheduled to close on December 29, 2022.

Rocket Sharing Company on Wednesday closed flat at EUR0.46 per share.

By Claudia Cavaliere, Alliance News reporter

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