(Alliance News) - SG Company Società Benefit Spa announced Tuesday that it has signed a binding agreement to acquire 60.92 percent of the share capital of Gruppo FMA Srl through the purchase of the corporate stake held by the company's founder, Aurelio Girelli.

The closing of the transaction will be finalized no later than May 31.

Gruppo FMA, based in Milan and Rimini, is a company active in the communications sector and specializing in shopper & brand activation, retail development & design, events & street marketing, strategy & consulting, customer marketing and creativity. The company's main clients include Ferrero, Cameo, Carlsberg Group, BIC Italia, MSC Cruises and Banca Mediolanum.

"The acquisition is in continuity with the company's strategies related to the expansion of the client portfolio and the strengthening of the services offered by the group - also in terms of content creation - through M&A transactions, as reported both in the update of the 2021-2023 business plan, published in March 2022, and in the investment plan drafted in July 2022," the company explained in a note.

The transaction also includes an exclusivity bond with the selling shareholder and the company's CEO and CFO, Antonio Enzo Pagani and Soleil Milan, respectively, whereby they will not be able to promote, undertake and/or execute with third parties transactions involving the sale of shares to third parties or the entry of

third parties in the capital of FMA Group.

The agreed price for the acquisition of 60.92 percent of FMA group's share capital is EUR1 million and will be paid by June 30. This valuation is based on the analysis of the average normalized Ebitda of the last three fiscal years - 2020, 2021 and 2022 - to which the average negative NFP of the last 12 months was added.

SG is flat at EUR0.32 per share.

By Claudia Cavaliere, Alliance News reporter

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