(Tiper Stock Exchange) – Italian Wine Brandspublic company of the Euronext Growth Milan segment of Borsa Italiana, one of the main players active in the production, distribution and sale of high quality Italian wines on international markets, announces that, today, the closing of the transaction took place investment by IWB with the completion of the acquisition of the entire share capital of Barbanera and Fossalto (together with Barbanera the “Target”) by the Company and the reinvestment of Holding Marco Barbanera (“HMB”) and Holding Paolo Barbanera (“HPB ”) in the capital of IWB through the subscription and payment in cash, by offsetting, of the reserved capital increase approved by the Company’s Shareholders’ Meeting on 16 December 2022.
In the context of the Transaction, today, HMB, HPB and their respective shareholders have hired a lock-up commitment concerning the n.
657,906 newly issued IWB shares deriving from the Reserved Capital Increase for the purpose of stabilizing the stock, for the period of 36 months from today’s date.
The Lock-up Agreement provides for specific exceptions to allow the transfer of the aforementioned shares in compliance with legal or regulatory obligations, or in the event of a third party’s promotion of a public purchase and/or exchange offer (OPA) with exclusive reference to the shares tendered in the tender offer and purchased by the bidder in the context of the tender offer.
The structure of the Transaction also provides for a deferred price component (Earn-out) of a total of Euro 1,000,000.00 to be paid in the first half of 2024 in the presence of an increase in average Ebitda for the two-year period 2022-2023 compared to 2021.
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