Azimuth completed the acquisition of 51% of An Ping Investment, the Taiwanese holding which owns the entire share capital of Sinopro with which it had signed an agreement at the end of June for a joint venture in the distribution of asset management products in the Asian country.
The Italian company explains in a note that today it underwrote the capital increase relating to 51% of An Ping Investment through the Luxembourg sub-holding AZ International Holdings. The operation was foreseen by the agreements announced at the end of June.
The total cost of the operation, including the financing of the industrial plan, will be approximately 3 million euros. The agreement also includes call and put options.
In mid-afternoon, Azimut's share on the Stock Exchange dropped by more than two and a half points.
