(Finance) – Cy4Gate received formal communication by the Presidency of the Council that nothing stands in the way of golden power from the company’s acquisition of 100% of the Aurora group, for which a preliminary purchase agreement was signed on 16 December.
Since the completion of the transaction is subject to the occurrence of some usual conditions precedent for such transactions, the most significant of which was the obtainment of the aforementioned authorization pursuant to the legislation on special powers, on 31 December Cy4Gate officially notified the Presidency of the Council of Ministers to initiate the operation.
With today’s ruling – a note reads – the competent Authority has therefore sanctioned that, “in the light of the overall modalities with
which the operation will take place, it is believed the same is not such as to cause any threat of serious prejudice to the essential interests of defense and national securityneither current nor potential “.
The authorization, therefore, eliminates a relevant suspensive condition and allows the company to proceed with the preparatory activities for the capital increasemoreover already authorized by the Extraordinary Assembly of Cy4Gate.
Emanuele Galtieri Chief Executive Officer of Cy4Gate he commented: “We are particularly pleased with this pronunciation of the Presidency of the Council which will allow us to bring the project for the acquisition of the Aurora Group and proceed swiftly in the integration strategies and in the realization of the synergies identified during the due diligence, to carry out the process of creating a national competence center for cyber products and technologies “.