Tamburi climbs again in Alpitour and thinks about the quotation on Piazza Affari.
According to the press release, Asset Italia 1, a company promoted by Tamburi Investment Partners, together with other Italian family offices, has reached an agreement with Wish's shareholders for the purchase of their direct and indirect stakes in Alpitour.
We recall that Wish is owned by the private equity funds managed by Wise Sgr and Ilp III Sicar, the latter in turn supported by J.Hirsch & Co.
Based on the provisions, the agreement provides for the acquisition of the entire share capital of Wish and of the entire stake held by Azurline Sarl (overall holders of 38,8% of Alpitour) by a recently established company, Alpiholding, whose capital will be held for 49,9% by Asset Italia 1 (which already owns approximately 33% of Alpitour), for 0,2% by Gabriele Burgio (President and CEO of the Alpitour Group, major shareholder of Alpitour) and the remaining 49,9% from other investors. The valuation of the Alpitour Group is equal to 470 million euros.
A year ago Tamburi had acquired 32,67% of Alpitour with a reserved capital increase of 120 million euros through the newco Asset Italia.
The agreement also establishes a commitment on the part of Alpiholding to purchase or have purchased, under the same conditions, further shares of Alpitour in the event that some of the other shareholders are interested in selling them in the same context.
The Turin entrepreneur Levi, Alpitour's historic shareholder, will remain in the capital with a view to long-term investment, as will Fabio Landini, a former shareholder of Presstour; Wise sgr will acquire a direct stake in Alpitour of approximately 3,5%.
It should be emphasized that the Alpitour group closed the 2017 financial year with record results: 1,2 billion euros in turnover, an ebitda that grew by 25% to 46 million and a net profit of 10,5 million.
“This operation marks the beginning of a new ambitious chapter in the history of Alpitour” declares Gabriele Burgio, president and managing director of the Alpitour group.
