Landi Renzo S.p.A. (BIT:LR) agreed to acquire gas-processing compressors producing business branch from Agave Srl for cash on May 23, 2012. The business branch involved in the transaction comprises several assets including tangible and intangible assets, as well as a specific number of workers necessary for business relaunching. Landi Renzo used its financial resources for the transaction. The business branch reported turnover of €27 million for the year 2011. The final acquisition of the business branch is subject to approval of the composition plan which Agave will propose to its creditors. Rental of the business branch, in preparation for the acquisition, is subject to some suspension clauses, the most significant of which is the authorisation from the Court of Bologna to enter into the temporary rental and acquisition contract.

As of July 18, 2012, Court of Bologna authorized Landi Renzo to the temporary lease of the business branch. Also, the business branch started operating as Safe Spa. Mediobanca S.p.A. acted as the financial advisor, Studio Legale Bassi & Terzi acted as the legal advisor, Studio Oliva acted as tax consultant while Analisi S.p.A. acted as the accounting advisor to Landi Renzo.

Landi Renzo S.p.A. (BIT:LR) completed the acquisition of gas-processing compressors producing business branch from Agave Srl for €3.5 million on April 8, 2013.