(Finance) – It shines on Piazza Affari Be Shaping the Futureclosing the session with a 25.38% increase at € 3.31 per share, making it the best stock in the FTSE Italia All-Share index. The company – listed on Euronext STAR Milan and active in the field of professional services for the financial sector – announced over the weekend that an agreement has been reached between the shareholders for the sale of 43.2% to Engineering. The completion of the transaction would lead to the launch of aMandatory tender offer at the price of 3.45 euros per share, the same as the sale agreement. Today the president Carlo Achermann, at the request of the Lead Independent Director Claudio Roberto Calab, has convened the Board of Directors for February 15, 2022“so that all the appropriate evaluations are carried out and the consequent resolutions taken, the contents of which will be promptly communicated to the market”, reads a note.
The operation provides the purchase by Engineering, through a specially constituted vehicle, of approximately 58.3 million Be shares at the unit price of 3.45 euros and the reinvestment by the shareholders Tamburi Investment Partners, Stefano Achermann and Carlo Achermann in the Italian holding that controls Engineering and which will also control Be for a total of 52 million euros. After delisting and the entry into Engineering, the Be group “it will continue to be led by Stefano Achermann and will remain focused on services to the main systemically important financial institutions (SIFI), to Tier1 banks and to the major international payment circuits, completing and supporting the value propositions of the Engineering group in the financial institutions market “, stated the shareholder TIP in the announcement of the operation.
The analysts of Equity they pointed out that the price defined by the agreement is more than 10% above its fundamental valuation of Be of 3.1 euros. “Not seeing particular risks on the conditions precedent and the finalization of the transactionwe align our target price to the offer price of 3.45 euros and move to Hold “, they wrote in the daily.
(Photo: © Veerasak Piyawatanakul)