Brief: Sesa Buys Further 51% Of P.M. Service, Raises Stake To 70%

Sesa SpA

03/05/2021 11:02

May 3 (Reuters) - Sesa SpA  SES.MI :
    * BUYS ADDITIONAL 51% OF P.M. SERVICE INCREASING ITS STAKE
TO 70%
FROM 19%
    * ACQUISITION PERFORMED ON BASIS OF PRICES IN LINE WITH
REFERENCE
EV/EBITDA (4.75X) RATIO GENERALLY APPLIED BY SESA GROUP
    * DEAL PROVIDES FOR LONG-TERM INVOLVEMENT OF FOUNDERS AND
KEY
PEOPLE MASSIMO INNOCENTI AND ANDREA PARRINI, WHO WILL MAINTAIN
MINORITY STAKES AND TOP MANAGEMENT ROLES IN PM SERVICE

Source text for Eikon:  ID:nBIA4KX10T 
Further company coverage:  SES.MI 

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