Brief: Innova Italy 1 Signs Deal For Business Combination With Fine Foods

Fine Foods & Pharmaceuticals NTM SpA

08/06/2018 07:09

June 8 (Reuters) - INNOVA ITALY 1 SPA  II1.MI : 
    * SAID ON THURSDAY THAT IT HAD SIGNED AGREEMENT FOR BUSINESS
COMBINATION WITH FINE FOODS & PHARMACEUTICALS NTM SPA (FINE
FOODS)
    * BUSINESS COMBINATION TO BE EXECUTED THROUGH INCORPORATION
OF
FINE FOODS IN INNOVA
    * FINE FOODS TO KEEP LISTING ON AIM ITALIA WITH THE AIM OF
BEING
LATER ADMITTED TO TRADING ON ITALIAN BOURSE'S MAIN MARKET MTA
    * INNOVA LIQUIDITY, AMOUNTING TO EUR 100 MLN, TO BE USED TO
FINANCE DEVELOPMENT OF FINE FOODS GROWTH, BOTH ORGANIC AND
THROUGH ACQUISITIONS
    * FINE FOODS MAIN SHAREHOLDER MARCO EIGENMANN WILL KEEP
STAKE OF
54 PCT
    * FINE FOODS ENTERPRISE VALUE FOR INCORPORATION HAS BEEN SET
AT
EUR 140.4 MLN, WHICH IMPLIES EQUITY VALUE (INCLUDING DEBT) OF
EUR 120 MLN

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nBIA1W2XpG
    
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