Closing Exprivia-Italtel

Successfully closed the integration with Exprivia and the recapitalization of Italtel

The satisfaction of the CEO Stefano Pileri for the positive conclusion of the evolutionary path taken by Italtel in these years and for the birth of a new entity that will bring worldwide Italy in new digital technologies sector.

Milan, Italy, December 14, 2017 – Italtel informs that the contracts for the investment of Exprivia – a company listed on the STAR Segment of Milan Stock Exchange [XPR.MI] – have been signed. In particular, Exprivia has subscribed company interest of 81% of Italtel S.p.A., recognizing the usual protections for minority shareholders and holders of “strumenti finanziari partecipativi” (SFP).

The transaction envisaged a 25 million euro capital increase by Exprivia and a 22 million euro capital increase by Cisco Systems, of which 6 million euro as ordinary shares and 16 million euro as preferred shares. Conversely, by the lending banks of Italtel, a conversion of 66.8 million euro from debt to reserves has been made through participatory financial instruments.

The CEO of Italtel, Stefano Pileri, warmly welcomes the closing of the Exprivia-Italtel integration that completes the evolution path undertaken by Italtel in the last recent years and constitutes a starting point for a new phase of development: “This operation creates a new group that is one of the most important players in the sector of digital technologies. A new entity very active in Research and Development, present in markets such as Telecommunications, Finance, Health, Energy and Industry and with an important vocation international market, where it develops over 30% of its revenues“.

The new industrial entity will particularly fit the needs of the digital transformation underway in all sectors of Economy and will have the ability to steer in an integrated way the entire ICT value chain, from infrastructure components to applications and services. It will have a strong commitment on Research and Development and will be able to count on more than 1000 researchers distributed in particular in Southern Italy, in the Sicilian laboratories in Palermo and in the Apulian ones in Molfetta, as well as in the Milan site”, concludes Pileri.

In the operation Italtel has been assisted by JP Morgan, DLA Law Firm, lawyer Nino Lombardo and Studio Lombardi Segni with lawyers Andrea Mazziotti and Antonio Amoroso.

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