What to do when you have 700 million cash in hand? Giovanni Tamburi has already given an answer in a conference at the beginning of May: "In the next few months - he said on 6 May speaking on Class TV - we will look with much more interest at acquisitions of our subsidiaries and therefore to the opportunity to put money into our twenty plus subsidiaries to further strengthen them”. Once phase one, conditioned by the lockdown, was over, the goal would have moved to new fronts. “Starting in autumn and winter we will also look at opportunities outside our portfolio“, he had anticipated by booking Tip's presence in the inevitable consolidation processes that could involve various sectors of the Italian economy, such as the tourism/hotel branch. Will it go like this? Probably yes, given that, in the words of Shakespeare, the Roman financier is proving to be a man of honor, respecting a precise timetable.
- Tuesday ended with the exercise of 97% abundant the last window foreseen for the 2015/20 warrants which gave the right to subscribe 12.376.567 newly issued Tamburi Investment Partners ordinary shares (in the ratio of 1 TIP ordinary share for each Warrant exercised) at the price of 5,41 euro. At the end of the operation, in which Gianni Tamburi himself took part by subscribing 455.530 Warrants, Tip's share capital increased by 66.957.227,47 euros.
- And so the firepower of the investment bank of the fourth capitalism, as it is now defined the financier's boutique, grows by another 67 million euros which are added to the amount raised by the senior bond (300 million) issued in December, to the treasury shares in hand (value 84 million after the last buyback between 6 and 12 June) and to the resources already accumulated by Asset Italia, the creature that brings together the team of allied families.
- In all it does About 700 million, a not negligible firepower to put at the service of Tamburi's strategies which, without haste or imprudence, are on the hunt for companies to support and enhance according to a tested formula: strong management and/or ownership; a sustainable business model; development prospects with adequate exposure to international markets.
- In recent months, as promised, Tip has dedicated itself above all to maintenance of the subsidiaries, all more or less hit by the storm. This is the case of Oviesse, which resorted to the Sace loan, a Fiat-like method. The financial company also increased its stake in Sesa, thus favoring the purchase of Service Technology which operates in the Green IT sector. Elica is also active on the capital market and this morning announced the signing of a loan agreement for one hundred million euros.
A cautious march that did not excite Business Square: in the last twelve months, the share has recorded a modest drop of -1,4%. But, on the other hand, Tip has thus recovered a large part of the declines of 2020, currently limited to 16%. Looking forward to shopping.
