MUNICATOTAMPA
PRESS RELEASE
Seri Industrial S.p.A.
Completed the closing for the acquisition of 98% of INDUSTRIA ITALIANA AUTOBUS S.p.A.
San Potito Sannitico, [July 11th, 2024] - Seri Industrial (the "Company"), following up on what was communicated on June 19th, 2024, announces that it has finalised the acquisition of 98% of Industria Italiana Autobus S.p.A. ("IIA"), a manufacturer of public road transport vehicles under the Menarinibus brand.
The transaction was completed in line with what already announced on June 19th. The compensation equals to €1 and, today, also the expected capital increase was subscribed by Invitalia S.p.A. and Leonardo S.p.A. (jointly 'the Sellers') and the Company. The share capital at the closing amounts to approximately € 141.3 million and does not include the additional contributions by the Sellers foreseen on July 15th,2024 and December 31st, 2024, for further € 50 million.
It should be also noted the immediate assignment of the new management with a board of directors made up of three members: Mr. Vittorio Civitillo (as CEO and Chairman) and Mr. Marco Raucci (as managing director), appointed by the Company, and Mr. Giancarlo Schisano (previous CEO of IIA, as director), appointed by Invitalia S.p.A..
Eng. Vittorio Civitillo comments on the completion of the transaction as follows: "We are embarking on a new and exciting venture in a strategic sector for the country and for Europe. We are convinced that the transition to electric mobility in public transport is inevitable, and as a company and as a country, we must be prepared to face the challenges of the near future.
I thank Deutsche Bank S.p.A. for the support received; thanks to their professionalism and availability, a very complex transaction has been successfully concluded".
Seri Industrial S.p.A. is a company listed on the EXM market of Borsa Italiana. Seri Industrial's mission is to accelerate the energy transition to sustainability and decarbonization.
The Group operates through two companies: (i) Seri Plast, active in the processing of plastic materials for the battery market, automotive, packaging and thermo-sanitary sector; (ii) FIB, active, through the FAAM brand, in the production and recycling of lead and lithium batteries for traction, industrial, storage and military applications, as well as in the design of plants for the recycling of batteries.
For further information:
Investor Relator
Marco Civitillo
E-mail:investor.relator@serihg.com
Tel. 0823 786235