Brief: Landi Renzo To Buy 100% Of Metatron

Landi Renzo SpA

05/08/2021 13:42

Aug 5 (Reuters) - Landi Renzo SpA  LR.MI :
    * AGREEMENT BETWEEN LANDI RENZO AND ITALY TECHNOLOGY GROUP
FOR THE
ACQUISITION OF METATRON S.P.A. 
    * TRANSACTION WORTH €26.7 MILLION
    * TRANSACTION WORTH €26.7 MILLION TO BE CARRIED OUT IN TWO
STEPS:
FIRST  ONE HAS BEEN COMPLETED TODAY WITH THE ACQUISITION OF A
49%  INTEREST IN METATRON; SECOND ONE, TO BE COMPLETED BY
NOVEMBER 30, 2021,  IS AIMED AT ACQUIRING REMAINING 51%
    * PURCHASING OF REMAINING 51% TO BE FINALIZED BY NOVEMBER
30, 2021
    * DEAL TO ALSO ENABLE SIGNIFICANT SYNERGIES BETWEEN
COMPANIES, IN
TERMS OF BOTH COST (ESTIMATED AT ABOUT €4.7 MILLION FOR FY AS OF
2022) AND INVESTMENTS (ESTIMATED AT ABOUT €5 MILLION FOR
TWO-YEAR PERIOD 2022-23)

Source text for Eikon:  ID:nBIAbb2RML 
Further company coverage:  LR.MI