Brief: Digital360 Signs biding Agreement for Acquisition of 51% Stake in ServicePro Italy

Digital360 SpA

28/03/2018 07:32

March 28 (Reuters) - Digital360 SpA  DIGT.MI :
    * ANNOUNCED ON TUESDAY SIGNING OF BINDING AGREEMENT FOR
ACQUISITION OF 51 PCT HOLDING IN SERVICEPRO ITALY SRL, MARKETING
AGENCY SPECIALISED IN ORGANISING COMPLEX EVENTS AND MANAGING
DEMAND GENERATION AND LEAD GENERATION CAMPAIGNS 
    * PROVISIONAL PRICE FOR THE PURCHASE IS 2 MILLION EUROS AS
WELL AS
51% OF THE NFP AT THE DATE OF CLOSING, AND WILL BE PAID IN CASH
IN 2 TRANCHES
    * DIGITAL360 ALSO HAS AN OPTION, EXERCISABLE IN 2021, TO
ACQUIRE
THE REMAINING 49% AT A PRICE THAT WILL BE CALCULATED ON THE
BASIS OF THE AVERAGE EBITDA ACHIEVED BY SERVICEPRO IN FINANCIAL
YEARS 2018,2019 AND 2020 AND MULTIPLIED BY 5.25
    * SELLING PARTNERS WILL BE ASSIGNED A PUT OPTION FOR THE
SAME
COMPANY SHARES AND AT THE SAME CONDITIONS

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nBIA1fFG4q
    
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