Change at the top of the Gedi group newspapers, recently acquired by Exor of the Agnelli-Elkann family, and owner of two of the most important Italian newspapers, La Repubblica e The print.
Carlo Verdelli is no longer the director of La Repubblica. Maurizio Molinari will take his place, current director of The print, who also assumes the role of editorial director of the Gedi group.
The guide of the Turin newspaper and of the local newspapers was instead entrusted to Massimo Giannini, up to now director of Radio Capital, while Mattia Feltri, currently editor-in-chief a The printbecomes director of theHuffington Post. Finally Pasquale of Molfetta (Linus) was appointed editorial director of the Group's radio hub.
At the corporate level, John Elkann becomes president of Gedi, while the manager Maurizio Scanavino, general manager since December, also assumes the position of managing director. As for the board, Laura Cioli, Rodolfo De Benedetti, Francesco Dini and Monica Mondardini have resigned from their position as directors of Gedi. The Board co-opted as new directors Turi Munthe, Maurizio Scanavino, Pietro Supino and Enrico Vellano.
In the afternoon of March 23rd Exor has officially announced that it has completed the closing for the acquisition of the Gedi group by Cir and Mercurio (Perrone family). Going into the details of the agreement, Cir will sell 43,78% of Gedi's capital to Giano Holding, a company wholly owned by Exor set up ad hoc for the operation.
The price of the deal is equal to 46 cents per share, 102,4 million euros in total.
The giant controlled by the Agnelli-Elkann family also announced that it has signed an agreement with Sia Blu (Giacaranda Caracciolo) and Mercurio for thepurchase of two more shares in Gedi equal to 6,07% and 5,06% respectively. The fixed price is always 46 cents per share.
Exor, through Giano, will launch a mandatory takeover bid for the outstanding Gedi shares at a price of 0,46 euros per share. He will accept the 5,99% stake in Gedi that the Agnelli holding already holds in the offer of the subsidiary.
At the end of the games, Giano-Exor will control 60,9% of Gedi's capital, equal to 63,21% of the voting rights. Cir and Mercurio will remain shareholders in Giano Holding with a stake of 5% each.
(Last update: 18.47)
