Signed by Pignataro’s bid on Cerved, 78.9% subscriptions – Ultima Ora

(ANSA) – MILAN, 09 SEPT – The bid launched on Cerved by Andrea Pignataro’s Ion Capital group is successful. Castor Bidco, the vehicle used to launch the offer, raised 78.9% of the capital, well overcoming the “minimum essential threshold” of 66.67%. At this point Pignataro will aim at the delisting of Cerved through a merger in its group, having control of the extraordinary shareholders’ meeting. Participants in the takeover bid will receive € 10.2 per share, as the 90% threshold has not been exceeded, which would have allowed the consideration to be raised to € 10.5.

Ion Capital will pay € 1.57 billion to pay for the shares. But the total account will be around 2 billion euros in the event that, following the merger, the remaining part of Cerved’s capital will make use of the right of withdrawal, allowed in the event that a merger leads to the exit from the list.

Ion Capital is supported in the transaction by Gic, the Singapore sovereign fund and by Fsi, a fund led by Maurizio Tamagnini, which will invest 150 million euros in equity instruments issued by Castor Bidco. The success of the takeover bid will bring Cerved into the orbit of Ion, a fintech giant, with 1.7 billion euros in revenues and 1.2 billion ebitda in 2020, adding to the 1.5 billion euros acquisition, signed in March 2021 by Cedacri, an IT outsourcing platform that serves several Italian banks.



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