Poste Vita S.p.A., Andrea Battista and Istituto Bancario del Lavoro S.p.A. bid to acquire 71% stake in Net Insurance S.p.A. (BIT:NET) for approximately €110 million on September 28, 2022. Battista, which will hold 400,000 shares of the company, will hold 2% of Net Insurance upon completion of the takeover bid, aimed at delisting from Borsa Italiana. Net Insurance's shares and warrants are expected to be delisted from Euronext Milan. The transaction is contingent on regulatory approval. As per Competition and Market Authority acquisition of sole control of Net Insurance does not significantly impede effective competition in the markets concerned and does not lead to the creation or strengthening of a dominant position. No investigation will therefore be initiated. As of February 15, 2023, regulatory approval have been received for the transaction. As of April 6, 2023, the offer has met the minimum threshold condition of 90% stake. Acceptance period will start on February 27, 2023 and close on April 6, 2023. Vitale&Co. S.P.A. acted as financial advisor and Studio Legale Trevisan & Associati. acted as legal advisor to Net Insurance S.p.A.

Poste Vita S.p.A., Andrea Battista and Istituto Bancario del Lavoro S.p.A. completed the acquisition of approximately 67.44% stake in Net Insurance S.p.A. (BIT:NET) on April 6, 2023. Following the transaction, offerors ownership in Net Insurance has increased to 96.44011%. Following the closing of tender offer, the delisting of Net Insurance is starting from April, 20, 2023.