Massimo Perotti along with his children agreed to acquire an additional approximately 23% stake in Sanlorenzo Spa from Sundiro (HK) Development Co., Limited for €22.8 million on December 3, 2018. For the year ended December 31, 2017, SANLORENZO S.P.A. reported total assets of €456.5 million, net assets of €96.4 million, revenue of €298.8 million, operating profit of €8.8 million, and net profit of €5.8 million. The transaction is subject to shareholders’ approval of Sundiro Holding Co., Ltd., ultimate parent of Sundiro (HK) Development Co., Limited. On December 3, 2018, the transaction was approved by the 17th session of the 9th directorate of Sundiro Holding Co., Ltd. Shanghai Sundiro Investment Limited, a parent company of Sundiro (HK) Development Co., Limited approved the transaction on December 20, 2018. Roberto Panero and Giovanni Faroti of RSM Studio Palea Lauri Gerla acted as accountant and Toti Musumeci, Marco Lazzarin, Vittorio Squarotti, Carlotta Pastore and Leonardo Musumeci of Musumeci Altara Desana acted as legal advisor to Massimo Perotti along with his children. Massimo Perotti along with his children completed the acquisition of an additional approximately 23% stake in Sanlorenzo Spa from Sundiro (HK) Development Co., Limited on January 9, 2019. Following the transaction, Massimo Perotti along with his children, owns 96% stake in Sanlorenzo. The remaining 4% is held by the Sanlorenzo management.