Brief: Edison signs deal to buy 5.0 pct of Frendy
28/07/2017 11:23
July 28 (Reuters) - EDISON SPA EDNn.MI :
* SAID ON THURSDAY IT HAD SIGNED A BINDING AGREEMENT WITH
MILANESIO AND FRENDY ENERGY FDE.MI TO BUY A STAKE IN FRENDY OF
5.0 PCT
* ACQUISITION ALLOWS TO MEET THE CONDITION PRECEDENT OF
OBTAINING AT LEAST 50 PCT OF FRENDY'S VOTING RIGHTS IN ITS
AGREEMENT WITH CRYN FINANCE AND A MINORITY SHAREHOLDER
* ON JULY 17, IT SIGNED A BINDING AGREEMENT TO BUY FROM CRYN
FINANCE AND A MINORITY SHAREHOLDER A 45.0 PCT STAKE IN FRENDY
urn:newsml:reuters.com:*:nFWN1K80KA
* ALL THE BINDING AGREEMENTS CALL FOR EDISON TO BUY THE
FRENDY SHARES AT AN ESTIMATED PRICE OF EUR 0.34/SHR
* AFTER CLOSING, SCHEDULED TO TAKE PLACE BY OCT, EDISON WILL
LAUNCH A COMPULSORY TAKEOVER BID ON ALL FRENDY SHARES
Source text for Eikon: urn:newsml:reuters.com:*:nBIA3nH7qF
Further company coverage: EDNn.MI
(Gdynia Newsroom)
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