(Alliance News) - Tinexta Spa announced Thursday that it has finalized, through its subsidiary Warrant Hub Spa, the closing on the acquisition of 73.9 percent of the capital of ABF Group SAS.

The transaction was finalized in line with the terms of the agreement, announced in mid-December 14, specifically, through the payment of an amount of EUR72.5 million, paid by Warrant Hub in cash.

The international presence of the Tinexta group is thus strengthened, enabling Warrant Hub, which is already present in France with Euroquality and in Spain with Evalue, to position itself in the European market as "one of the few operators present in support of business innovation and growth, to promote in France its innovative services, already successfully tested in Italy, and to strengthen its expertise in the field of public financing for innovation and sustainable development," the company said.

In addition, this transaction will provide the opportunity to expand their respective offering portfolios, particularly that of ABF Group, by integrating Warrant Hub's unique expertise, creating synergies and knowledge exchanges between Italy, France and Spain.

Tinexta's stock is up 1.5 percent at EUR18.95 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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