Newlat Groupparent company Newlat Food, has signed a binding agreement with some shareholders of the Central Dairy of Italy to acquire a majority stake in the company's capital, equal to 46,24%.
The transaction closed at a purchase price of one euro per share, to which is added the sale of 0,33 Newlat Food shares for each title of Centrale Latte d'Italia.
Under the same conditions, Newlat Food will launch a mandatory public purchase and exchange offer (OPAS). on the rest of the capital of the Centrale Latte d'Italia.
The members of the Centrale del Latte d'Italia who signed the agreement are Finanziaria Centrale del Latte of Turin, Lavia-Società Semplice, Luigi, Marco Fausto and Carla Luzzati and Sylvia Loew. They will become shareholders of Newlat Food with a total stake equal to 5,30%.
Meanwhile, Newlat Group will transfer the stake to Newlat Food of the newly purchased Centrale Latte d'Italia, plus the 1,34% that it already had in its portfolio, for a total stake of 47,58%.
The operation will create the third Italian operator in the Milk & Dairy sector. The objective is “the consolidation of the Italian dairy market – reads the note – Newlat Food and Cli present important elements of complementarity as geographical positioningas well as significant synergistic potential. The industrial project envisages that Cli will become the reference platform for the entire dairy world of the entity resulting from the operation by leveraging, among other things, the regional high-quality production chains of the Toscana and Piemonte and on the managerial continuity represented by all the managers and collaborators who will be involved in the important growth project under the guidance of Angelo Mastrolia, executive president of Newlat Food, and Edoardo Pozzoli, former general manager and current administrator of Cli”.
Newlat Food was assisted by Ubi Banca, while Newlat Group was assisted by Equita Sim and the selling partners of Centrale Latte d'Italia entrusted themselves to the Vitale & Co studio.
