(Alliance News) - Renergetica Spa announced Tuesday that the planned sale from Exacto Spa to CVA EOS Srl of 4.8 million ordinary shares in the company, equivalent to 60 percent of its share capital, has been finalized.

The closing of the transaction was finalized following the fulfillment of the conditions precedent related to obtaining authorization under golden power regulations, as well as the completion of the transfer by Renergetica to Exacto of its foreign subsidiaries in Spain and the US, the company explained in a note.

In addition, the company reports that the planned sale to Exacto of its subsidiary Ren 189 Srl - to which the stakes in subsidiaries operating in the US and Spain had previously been contributed - has been carried out, and that trade receivables from Exacto arising from the sale to it of subsidiaries operating in the Latin American region have been collected in full, resulting in total collections of approximately EUR2.8 million, with a corresponding improvement in the financial situation.

Finally, CVA EOS and Exacto signed a five-year shareholders' agreement covering, among other things, corporate governance rules and limitations on the transfer of Renergetica shares, with the aim of ensuring stability in governance and corporate structure.

On Tuesday, Renergetica closed flat at EUR9.65 per share.

By Claudia Cavaliere, Alliance News reporter

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