Tinexta — M&A Activity 2017

Mar 28, 2017

Informazione Regolamentata n. 20053-11-2017		Data/Ora Ricezione 28 Marzo 2017 16:31:15	MTA - Star
Societa'	:	Tecnoinvestimenti S.p.A.
Identificativo Informazione Regolamentata	:	87018
Nome utilizzatore	:	TECNOINVNSS01 - KAY
Tipologia	:	IROS 01
Data/Ora Ricezione	:	28 Marzo 2017 16:31:15
Data/Ora Inizio Diffusione presunta	:	28 Marzo 2017 16:46:16
Oggetto	:	Board approves purchase of Ribes & Assicom minorities with objective to coordinate their combined development in the medium term
Testo del comunicato

Vedi allegato.

PRESS RELEASE

BOARD APPROVES PURCHASE OF RIBES & ASSICOM MINORITIES WITH OBJECTIVE TO COORDINATE THEIR COMBINED DEVELOPMENT IN THE MEDIUM TERM

Rome, 28 March 2017. The Board of Directors of Tecnoinvestimenti, chaired by Enrico Salza, approved the proposal of the Managing Director, Pier Andrea Chevallard, to exercise the optionsto purchase the minorities of Ribes and Assicom, that operate in the Strategic Business Unit (SBU) of Credit Information & Management, thereby obtaining as a consequence the full control of the two subsidiaries.

The decision permits Tecnoinvestimenti to promote the integration of the two companies with the objective to tackle the increased competition and seize the opportunities that the market presents, in both the corporate and financial sectors. The exercise of the option to purchase the outstanding 12.5% minorities of Ribes occurs in the first window contractually foreseen, while the purchase of the 32.5% minorities of Assicom, owned by Quaranta Holding and Capitolo 11, occurs partially ahead of the contractually provided timing, which foresaw the exercising of the option in two tranches, the first upon the approval of the 2016 financial results and the second upon the approval of the 2017 financial results.

The total cost of the transactions is €35 million, which will be paid utilizing already available liquid resources. The payment will be made upon the closing of the transaction that is foreseen for today for the Assicom minorities, while the payment for the purchase of the Ribes minorities will occur in approximately one month. The total cost of the transactions corresponds with the values of the related put options reported in Tecnoinvestimenti's 2016 financial statements and included in the representation of the Consolidated Net Financial Position.

Upon the perfection of this transaction Tecnoinvestimenti will proceed to renew Assicom's board of directors, whose mandate expires with the approval of the 2016 accounts.

Tecnoinvestimenti's Managing Director, Pier Andrea Chevallard, declared "We are most grateful to Alessandro Salvatelli, the leader and creator of Assicom. His foresight and understanding of the market dynamics were fundamental virtues necessary for the creation and development of a company renown for excellence in the Credit Information and Management sector. Salvatelli demonstrated an acute ability to create an offer corresponding to the needs of Italian businesses while contemporaneously constructing a solid distribution network that the Group will continue to enhance and develop. Tecnoinvestimenti wishes Alessandro Salvatelli, Assicom's outgoing managing director, much success in the new endeavours that he intends to pursue."

THE TECNOINVESTIMENTI GROUP

The Tecnoinvestimenti Group reported revenue of €147.3 million, EBITDA of €29.7 million and a net profit of €12.1 million in 2016. The adjusted net profit, which does not include nonrecurring components and the amortization recognized in connection with business combinations, amounted to €15.9 million. Tecnoinvestimenti is listed on the STAR segment of the Milan Stock Exchange.

The Group is one of Italy's top operators in its three areas of business: Digital Trust, Credit Information & Management and Sales & Marketing Solutions. The Digital Trust Business Unit, through the companies InfoCert and Visura, provides products and services for document digitalization, electronic billing, certified email and ature. InfoCert is a European Certification Authority and one of four Identity Trust Providers accredited in Italy. The Credit Information & Management Business Unit, which includes the companies Ribes and Assicom and their subsidiaries, offers decision-making support services such as Chamber of Commerce and real estate information, aggregate reports, summary ratings, decision-making models, real estate appraisals and valuations, with special emphasis on the supply and assessment of credit and collection services. The Sales & Marketing Solutions Business Unit, through the company Co.Mark, offers solutions and tools to help small and medium-sized companies expand internationally.

Website: www.tecnoinvestimenti.it; Stock ticker: TECN; ISIN Code IT0005037210

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CONTACTS
Corporate & Financial Communications	Media Advisor	Specialist
Lawrence Y. Kay	Barabino & Partners S.p.A.	Intermonte SIM S.p.A.
E-mail: lawrence.kay@tecnoinvestimenti.it	Foro Buonaparte, 22 - 20121 Milano	Corso V. Emanuele II, 9 - 20122 Milano
Carla Piro Mander	Tel.: +39 02 7202 3535	Tel.: +39 02 771151
Tel. +39 06 42 01 26 31	Stefania Bassi: +36 335 6282 667
E-mail: carla.piro@tecnoinvestimenti.it	s.bassi@barabino.it