(Finance) – The Boards of Directors of the companies concerned have approved the draft merger by incorporation in Netweekpublishing group listed on Euronext Milan, di GM24 and Media Groupcompanies belonging directly and / or indirectly to Sciscione family. The merger will give life to a group that will have a network of over 50 local news magazines, 44 online portals and 19 LCNs in digital terrestrial technology broadcast in 16 Italian regions. The new reality wants to be “a primary interlocutor for the Italian SME in order to make the most of the opportunities connected to a multi-channel offer to be reserved not only from a B2B perspective to the customer base of Netweek and Media Group but also from a B2C perspective to GM24 private customers, periodical readers and viewers of television channels “, reads a note.
Upon completion of the operation, the current shareholders of Netweek will see diluted your shareholding at 30.9%; at the same time, each of the two shareholders of Media Group will acquire a stake each equal to 29.3% of the capital and the GM24 shareholder will acquire a stake of 10.5%. Ultimately, D.Holding will hold a stake of approximately 19.5% of the share capital of Netweek and the Sciscione family will directly and indirectly own a stake of approximately 69%. In the context of the merger, the acquiring company Netweek will offer its shareholders the grouping of shares according to the ratio 1:10, effective at the same time as the completion of the merger.
The merger is expected to be subject to the approval of theextraordinary assembly of the shareholders of Netweek which will be convened by 31 July 2022 upon the occurrence of the conditions precedent. Netweek is assisted by: Deloitte Financial Advisory, as financial advisor, which carried out the due diligence and issued a fairness opinion on the fairness of the exchange ratio from a financial point of view; Deloitte-Monitor as strategic advisor for the preparation of industrial plans; Studio Tonucci & Partners for legal and tax assistance.
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