(Finance) – SG Company Benefit Company, listed on the Euronext Growth Milan market of the Italian Stock Exchange, announces that the subsidiary FMA signed a binding agreement with Concreta Communicationsa company active in the fields of creativity, competitions and promotions, as well as management platforms, software and servers, for the acquisition of 51% of a newco active in the field of prize competitions.
The objective of the operation is enhance integration opportunities of the businesses of the two companies. Therefore, the NewCo which will be established today by Concreta Comunicazioni and which will come named Concrete Promotion, will receive the transfer of a business unit operating in the prize competition sector – owned by Concreta Comunicazioni and equivalent to the entire commercial value of the same – currently already endowed with organizational and functional autonomy.
The turnover of Concreta Comunicazioni at the end of 2023 it was equal to 953,198 euros (913,531 at the end of 2022) and, therefore, based on the volumes of the activity of both FMA and Concreta Comunicazioni, it is expected that Concrete Promotion can accomplish at the end of 2025 a turnover of approximately at least 1 million eurosbringing new value to the Group’s results.