FNM S.p.A. (BIT:FNM) agreed to acquire 80% stake in Viridis Energia Srl from LA.GI. Energia 2008 S.r.l. and Hnf S.P.A. for ?59.2 million on January 15, 2023. The Board of Directors of FNM S.p.A. ("FNM") under the chairmanship of Mr. Andrea Angelo Gibelli resolved to accept the Term Sheet binding offer. The expected total price to be paid at Closing is ?59.2 million for the acquisition of the 80% stake in Viridis and includes a portion as an advance on the agreed-upon Earn Out for the development of the pipeline to be completed within 6 years from Closing. The acquisition price is calculated on the basis of the consolidated accounts prepared by Viridis referring to the scope of the transaction as of 30 June 2023 with revenues of ?8.5 million, EBITDA of ?4.9 million and Net Financial Position of ?16.2 million reduced by any adjustments to the Net Financial Position occurring between 30 June 2023 and the Closing date and may be subject to any further adjustments as a result of the due diligence currently underway. The signing for acceptance of the binding offer is expected by January 16, while the execution of the sale and purchase agreement, which will be subject to the usual due diligence and conditions precedent typical of this type of transaction, is expected by February 19, 2024. The sale and purchase agreement was signed on February 20, 2024.


FNM S.p.A. (BIT:FNM) completed the acquisition of 80% stake in Viridis Energia Srl from LA.GI. Energia 2008 S.r.l. and Hnf S.P.A. for ?80 million on February 23, 2024.