(Finance) – REVO communicated a reduction of the consideration for the acquisition of Elba Assicurazioniequal to an amount of 550,000 euros. The final price is therefore equal to 163,315,369.75 euros. The price revision came at the end of the procedure for determining Elba Assicurazioni’s net profit in the period 1 July 2021 – 30 November 2021, as required by the sales contract of 19 July 2021.
REVO, the SPAC promoted by Alberto Minali and Claudio Costamagna, also specified that an amount of € 8 million remains withheld in escrow to guarantee any indemnities that may arise after closing.