Sprintitaly S.p.A. (BIT:SPRT) agreed to acquire an unknown minority stake in Sicit 2000 Spa on January 11, 2019. The equity value has been set at €160 million for Sicit. €70 million will be paid to purchase shares in Sicit and €30 million will be used to strengthen the capital and finance the growth plan. €50 million will be distributed to SprintItaly’s shareholders at the net value of the disbursement for any potential recesses connected with the Business Combination. Sprintitaly shareholders will own 54% of the combijned company (60% fully loaded). The Board of Sprintitaly has approved the transaction. New company after merger will be named Sicit SpA. The transaction is expected to complete by summer 2019. Anton Carlo Frau and Vanessa Sobrero of Gatti Pavesi Bianchi Studio Legale Associato acted as legal advisor for Sprintitaly in the transaction.