Brief: Top Fullsix Shareholder To Swap Its Stake With Shares In Start-up Myav

Beewize SpA

05/03/2018 09:41

March 5(Reuters) - FULLSIX SPA  FUL.MI :
    * SAID ON FRIDAY THAT ORIZZONTI HOLDING (OH), CENTRO STUDI,
BLUGROUP AND MARCO BENATTI HAD SIGNED PRELIMINARY BINDING
AGREEMENT FOR THE TRANSFER OF A STAKE IN FULLSIX
    * TOP FULLSIX SHAREHOLDER BLUGROUP WILL EXCHANGE ITS 45.3
PCT
STAKE FOR A STAKE IN START-UP MYAV, IN WHICH OH AND CENTRO STUDI
HAVE STAKES
    * OH CURRENTLY HAS A CONTROLLING STAKE IN MYAV
    * IT IS IN PLAN TO LIST MYAV ON AIM IN 18-24 MONTHS SINCE
THE
FINALIZATION OF THE STAKE EXCHANGE
    * THE AGREEMENT FORESEES "SIGNIFICANT" SYNERGIES BETWEEN
FULLSIX
AND THE ORIZZONTI HOLDING GROUP
    * THE EXCHANGE RATIO BETWEEN FULLSIX AND MYAV IS LINKED TO
RESULTS
OF DUE DILIGENCE
    * AT THE CLOSING OF THE EXCHANGE, AN EXCHANGE OFFER WILL BE
LAUNCHED AT THE SAME CONDITIONS FOR BLUGROUP
    * THE OPERATION IS NOT AIMED AT DELISTING FULLSIX

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nBIA8Tjf8f
    
 Further company coverage:  FUL.MI 

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