(Alliance News) - Sebino Spa announced that Sebino Holding Srl, a vehicle controlled by Seta Holding SA, has signed a preliminary agreement to take over 85 percent of Sebino Spa.

Subject to the completion of the acquisition, a mandatory full takeover bid will be launched on the remaining outstanding shares of Sebino, for a consideration per share of EUR7.20.

Seta Holding is an investment company born from the initiative of international entrepreneurs and investors with more than 30 years of experience in the private equity world, whose current portfolio of Italian companies includes interests in Panini Spa and Golmar Italia Spa, companies specializing, respectively, in technological solutions for the improvement of banking processes and identity verification and in professional hygiene products for business customers.

With this transaction, Seta Holding intends to flank Sebino's current major shareholder, Nexus I, which will reinvest in Sebino's share capital, as well as Sebino's CEO, Gianluigi Mussinelli, who will remain at the helm of the company, "recognizing the role played by the Sebino Group as a leader and key player in the design, installation and maintenance of fire and security systems, markets that in themselves represent interesting investment opportunities," the company explained.

Mussinelli commented, "I am very pleased with the preliminary agreement reached with the new investors. After complex years for the Italian economy, characterized by the spread of the Covid-19 epidemic, rising costs of raw materials and energy, the conflict in Ukraine, and, most recently, the sudden increase in interest rates, I am confident that the path ahead can present Sebino with new challenges, but also new opportunities that, with the spirit that has always characterized us, we are determined to seize with even greater strength."

Sebino's stock is unchanged at EUR6.08 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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