Brief: Italian Wine Brands Acquires 100% Of Raphael Dal Bo

Italian Wine Brands SpA

02/03/2020 16:56

March 2 (Reuters) - Italian Wine Brands SpA  ITWB.MI :
    * ACQUIRES 100% OF RAPHAEL DAL BO AG
    * ACQUISITION TOOK PLACE THROUGH GROUP’S WHOLLY-OWNED
SUBSIDIARY,
PROVINCO ITALIA
    * PROVINCO ACQUIRED 90% OF CO OWNED BY RAPHAEL DAL BO AND
10% BY
GIUSEPPE GERONAZZO
    * ACQUISITION ON BASIS OF AN ENTERPRISE VALUE EQUAL TO A
MAXIMUM
OF 13.4 MILLION SWISS FRANCS
    * PROVINCO ITALIA PAID SELLERS 12.4 MILLION SWISS FRANCS,
EQUAL TO
AROUND 86% OF TOTAL SALE PRICE AGREED BETWEEN PARTIES
    * MR RAPHAEL DAL BO PURCHASED 210,289 TREASURY SHARES FROM
IWB FOR
A TOTAL OF 2.9 MILLION SWISS FRANCS
    * RAPHAEL DAL BO BECOMES CO'S SHAREHOLDER WITH A 2.84% STAKE
    * REMAINING 14% OF SALE PRICE, EQUAL TO A MAXIMUM OF 2
MILLION
SWISS FRANCS, WILL BE PAID BY 31 MARCH 2021 ON BASIS OF RDB'S
CONTINUED FINANCIAL PERFORMANCE IN 2020
    * RAPHAEL DAL BO AG IS PRODUCER OF OWN-BRAND, ORGANIC
SPARKLING
WINES IN SWITZERLAND AND CENTRAL EUROPE

Source text for Eikon:  ID:nBIA4SVswX 
Further company coverage:  ITWB.MI 

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