MILAN, May 20 (Class Editori) — Engineering has extended from May 20 to June 19 the deadline for the acquisition of 43.2% (or 45.63%, fully diluted) of Be|Shaping the Future, a company listed on Euronext Star Milan owned by Tamburi Investment Partners, Stefano Achermann and his subsidiary Innishboffin, and Carlo Achermann and his subsidiary Carma Consulting.
The deadline of the letter of intent signed on February 11 was postponed in view of the volume and complexity of the activities necessary for the finalization and signing of the binding agreements, also because of the many parties involved. It should be remembered that Engineering is controlled, directly and indirectly, by companies under the private equity funds managed by Bain Capital Private Equity and NB Renaissance Partners (NBRP).
The completion of the transaction, aimed at the delisting of Be by means of a proposed full takeover bid by Engineering, remains subject to obtaining all the necessary authorizations and consents, the finalization of agreements with the other shareholders and the actual disbursement of the resources necessary to follow up on the transaction. Regarding the second condition, Be's shareholders not involved in the sale (Andrea Angrisani, Giancarlo Angrisani, Angelini Partecipazioni Finanziarie, Gabriella Benetti, Blue Lake SICAV-SIF, Rüdiger Borsutzki, Marco Bosco, Francesco Scarnera and Patrizio Sforza) have already unilaterally committed to sell additional shares to Engineering, representing about 8% of the company's equity (equal to 8.45% fully diluted).
Engineering is one of the leading Italian companies in the digital transformation market, with 12,000 employees in 40 locations. The Group, consisting of more than 20 companies in 12 countries, integrates best-of-breed market solutions and managed services, and continues to expand its expertise through M&A deals and partnerships with major technology players. Be, on the other hand, supports major banks and insurance companies in managing the complexities arising from business evolution. The company currently trades at 3.27 euros (-0.61%). (All rights reserved)
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