Brief: Cellularline To List On AIM Italia Via Business Combination With SPAC Crescita

Cellularline SpA

19/01/2018 08:04

Jan 19 (Reuters) - CRESCITA SPA  CRSA.MI : 
    * SAID ON THURSDAY IT SIGNED AN AGREEMENT FOR A BUSINESS 
COMBINATION WITH CELLULARLINE 
    * TO INCORPORATE GINETTA, SOLE SHAREHOLDERS OF CELLULAR 
ITALIA, 
AND CELLULAR ITALIA 
    * PENDING BUSINESS COMBINATION APPROVAL, CELLULAR GROUP WILL 
BE 
LISTED ON AIM ITALIA WITH A FREE FLOAT OF 63 PCT 
    * CELLULAR GROUP PRODUCES AND SELLS UNDER THE BRAND 
CELLULARLINE 
ACCESSORIES FOR SMARTPHONES AND TABLETS 
    * TO BUY 49.87 PCT STAKE IN GINETTA FOR EUR 80.0 MLN 
    * REMAINING LIQUIDITY OF CRESCITA, UP TO EUR 50.0 MLN, TO BE 
USED 
TO FINANCE DEVELOPMENT OF CELLULAR GROUP 
    * FOUNDERS, FUNDS AND SOME MANAGERS OF CELLULAR GROUP WILL 
KEEP 15 
PCT, 13 PCT, AND 9 PCT, RESPECTIVELY, IN THE RESULTING LISTED 
COMPANY 
    * CELLULAR GROUP ENTERPRISE VALUE IS SET AT EUR 244.4 MLN, 
IMPLYING AN EQUITY VALUE OF EUR 160.4 MLN, TAKING INTO 
CONSIDERATION AN AGREED ADJUSTED NET DEBT OF EUR 84.0 MLN 
 
     
 Source text for Eikon:  urn:newsml:reuters.com:*:nBIAb6sc2p 
     
 Further company coverage:  CRSA.MI  
 
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