(Tiper Stock Exchange) – Afive has signed a Framework Agreement with A2A And AEB extension concerning the reorganization and efficiency improvement of some staff services of transversal relevance for the group headed by A2A, the group headed by Acinque and the group headed by AEB to be implemented through: the contribution to a newly established joint-stock company (“NewCo”), wholly owned by A2A, against a capital increase by NewCo, of the company branches respectively held by A2A, Acinque and AEB through which services are performed: aimed at the employees of the respective groups; addressed to its customers; addressed to its suppliers; and connected to the properties of the respective groups and following the completion of the Contribution, the disbursement by NewCo, for consideration, in favor of the companies belonging to the A2A Group, the Acinque Group and the AEB Group of the Services on the basis of specific annual services.
The Transaction (the value of which for the Company amounts to a total of approximately Euro 33 million, including the value of the Business Unit to be contributed by the Company and the estimated consideration for the execution of the Services in favor of the companies belonging to the Acinque Group until 2030 ) is aimed at improvement of the quality of services disbursed to the companies belonging to the A2A Group, the Acinque Group and the AEB Group, to the acceleration of the digitization of the tools used for the provision of the services themselves, to the enhancement of the skills of the personnel working in the NewCo company and to guarantee a growing saving for the Company equal to approximately Euro 5 million over the period of the 2023-2030 plan, on the basis of which the industrial assessments relating to the Transaction were carried out, of which approximately Euro 1.0 million in 2030.
Pursuant to the Plan, these savings are produced by: the effect of economies of scale on external costs, thanks to the increase in volumes and the rationalization of the supplier portfolio, and (ii) the optimization of internal costs implemented through the development technology and process evolution.
Pursuant to the Framework Agreement, on the execution date of the Transaction, the Parties will sign a shareholders’ agreement which will govern the governance of NewCo, the procurement commitments for the Services of each company and the regime applicable to the transfers of the stakes held by them in NewCo.