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    SICT   IT0005372344

SICIT GROUP S.P.A.

(SICT)
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10 May 2021 – Expression of interest of Syngenta Group for Sicit: Intesa Holding press release

05/11/2021 | 02:44am EDT

Expression of interest of Syngenta Group for Sicit: Intesa Holding press release

Arzignano (Italy), 10 May 2021 - With reference to the expression of interest with which Syngenta Crop Protection AG and Valagro S.p.A. (the "Syngenta Group") have announced to the Board of Directors of Sicit Group S.p.A. ("Sicit") its intention to launch, subject to the occurrence of certain conditions, a public tender offer for all of the shares of Sicit, the Board of Directors of Intesa Holding S.p.A. ("Intesa Holding"), which met today, points out the following.

The aforementioned expression of interest, in qualifying the relationship with Intesa Holding as a "crucial element to the success of the transaction", mentions, among other things, the intention of Syngenta Group to propose an industrial partnership to Intesa Holding in the event that the latter decides to remain a shareholder of Sicit, to be achieved by the conclusion of a shareholders' agreement and the sharing of Sicit's governance.

The Board of Directors of Intesa Holding, considering Syngenta Group's expression of interest, while appreciating the interest shown by the Syngenta Group in Sicit and the attention paid to Intesa Holding, confirms its commitment, as a long-term shareholder, to support Sicit in its virtuous path of transition to a green and environmentally sustainable economy, in the interest of all Sicit's stakeholders and with a view to the continued growth of the Vicenza tannery district, in line with its strategic importance for the business sector and, in general, for the country.

Therefore, Intesa Holding confirms its firm intention to abide by the commitments made with regard to the tender offer launched by NB Renaissance through Circular Bidco S.p.A. which, if successful, will allow Intesa Holding to increase its stake in the capital of Sicit from 43.4% up to 50%, to remain the sole industrial partner of reference of Sicit and, therefore, to independently pursue the objectives indicated above.

Disclaimer

SICIT Group S.p.A. published this content on 10 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 May 2021 06:43:06 UTC.


© Publicnow 2021
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Net income 2021 17,7 M 21,5 M 21,5 M
Net cash 2021 17,3 M 20,9 M 20,9 M
P/E ratio 2021 21,2x
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