Italy's Be jumps 6% after TIP signs final deal to sell stake to Engineering

Tamburi Investment Partners

20/06/2022 11:37

MILAN, June 20 (Reuters) - Investment group Tamburi
Investment Partners (TIP)  TIP.MI  said on Monday it had signed
binding agreements for the sale of its stake in Be Shaping the
Future (Be)  BESTE.MI  to Engineering, driving the Italian
consultancy firm's stock up as much as 6.4%. 
    The deal, under which TIP and the Achermann family will sell
an overall 43.21% holding in BE to Engineering at a price of
3.45 euros per share ($3.63), was announced in February. 
    It is aimed at the de-listing of Be following a takeover bid
on the remaining shares Engineering will be obliged to launch.
 urn:newsml:reuters.com:*:nFWN2UM1FW
    Engineering Ingegneria Informatica, active in the
information and communications technology field, is owned by
private equity fund Bain Capital and investment fund NB
Renaissance Partners.
    "The competences in IT digital consulting and the customer
base of Be complement the capabilities, the commercial presence
and the digital technologies' know-how of Engineering," said
Fabio Cané, Senior Partner of NB Renaissance.
    By 1015 GMT, Be shares were up 5.97%, outperforming a 0.6%
rise in Milan's all-share index  .FTITLMS , while Tamburi was
trading down 0.3%. 
    ($1 = 0.9494 euros)

 (Reporting by Federico Maccioni, editing by Agnieszka Flak)
 ((Federico.maccioni@thomsonreuters.com; +39 3420768883;))