Brief: Class Editori: Pim To Own 28% In Exchange For Its 67.5% Stake In Gambero Rosso In Capital Increase Transaction

Gambero Rosso SpA

19/03/2018 07:18

March 19 (Reuters) - Class Editori SpA  CLED.MI :
    * ANNOUNCED ON FRIDAY IT HAS DECIDED TO ACCEPT BINDING OFFER
FROM
PIM SPA, CONTROLLING SHAREHOLDER OF GAMBERO ROSSO SPA  GAMB.MI ,
FOR TRANSFER OF CONTROLLING INTEREST (67.48%) IN GAMBERO ROSSO
TO CLASS EDITORI FROM PIM
    * TRANSACTION WILL BE REALIZED VIA CAPITAL INCREASE OF CLASS
EDITORI RESERVED TO PIM AND SIGNED WITH CONTRIBUTION OF 9.75
MILLION SHARES OF GAMBERO ROSSO 
    * VALUATION OF CLASS EDITORI IS DETERMINED AT EUR 38.71
MILLION
AND VALUATION OF GAMBERO ROSSO IS DETERMINED AT EUR 22.31
MILLION
    * VALUE OF STAKE OWNED BY PIM IN GAMBERO ROSSO IS EUR 15.05
MLN
    * FOLLOWING THIS TRANSACTION CLASS EDITORI WILL BE OBLIGED
TO
LAUNCH PUBLIC EXCHANGE OFFER TO OTHER SHAREHOLDERS OF GAMBERO
ROSSO TO PURCHASE REMAINING SHARES (32.52% OF SHARE CAPITAL) AT
THE SAME TERMS AND CONDITIONS AS TRANSACTION WITH PIM
    * FOLLOWING CAPITAL INCREASE PIM WILL HOLD 27.96% OF CLASS
EDITORI

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nBIA5xQxZF;  urn:newsml:reuters.com:*:nBIA4dwTj 
    
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