Amsterdam/Milan 3 April 2020. Following receipt of the necessary approvals from the competent authorities, including the European Commission and AgCom, CIR S.p.A. – Compagnie Industriali Riunite (“CIR”) and EXOR N.V. (“EXOR”) communicate that completion of the transaction announced on 2 December 2019, concerning the acquisition by EXOR of the shareholding equal to 43.78% of the total share capital of GEDI Gruppo Editoriale S.p.A. (“GEDI”) held by CIR, will take place on 23 April 2020 at a price of €0.46 per share, which corresponds to a total consideration of €102.4 million.
Following completion of this purchase, EXOR will launch a mandatory public tender offer (“MTO”), via a newly established joint stock company, on all outstanding GEDI shares not already owned, in the manner and according to the timing provided by the applicable rules and regulations, and on the same above-stated terms (€0.46 per share).
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