By the first half of 2022, the Sawiris family will indirectly hold the entire share capital of Italyonline. Libero Acquisition S.à.rl., a company of the Orascom group, whose share capital is indirectly held by the Sawiris family, has in fact stipulated an agreement with Avenue Capital Group and GoldenTree Asset Management Lux for the acquisition of 27,5% of Italiaonline , of which Libero already owns 72,5%.
“With the full entry of the Sawiris family, a new era of expansion and growth awaits us; we will continue to provide our customers with the best solutions for their digital business; this is a key step in expanding Italiaonline's digital footprint,” he said Roberto Giacchi, CEO of Italiaonline.
“Thanks to this important transaction, the Sawiris family and the entire Orascom Group have once again strengthened their commitment to the business managed by Italiaonline with the aim of digitizing Italian SMEs, the true backbone of our country's economy, and to continue the growth path of the largest Italian internet company - said the president of Italiaonline, Onsi Sawiris -. This acquisition is the perfect opportunity to further expand the Group's interest in the digital sector in the Italian market. Furthermore, the transaction demonstrates the continued trust of the Sawiris family in the work performed by employees and management and in the organization of Italiaonline”.
