Tip-preIPO – TIPO SpA – investee company of TIP – Tamburi Investment Partners SpA (TIP-Mi) investment-merchant bank listed on the Star segment of Borsa Italiana, has signed the definitively binding contract for the sale of all its shareholdings (direct and indirect) in iGuzzini Illuminazione SpA to the Swedish group Fagerhult AB. The union of the two companies will create one of the major European groups in the professional lighting sector. The established price is 385 million euros gross of financial debt and will be paid, at the closing, in cash for 74% and in newly issued Fagerhult shares for the remainder.
Entry into the capital of iGuzzini with an initial investment of around 21 million euros, subsequently increased by a further 11 million euro, with this sale TIPO expects to achieve a capital gain of approximately 60 million euro, in addition to the dividends already collected. The closing will take place once the antitrust authorizations have been obtained in Germany and Russia as well as the resolutions relating to the related capital increase. Fagerhult's largest shareholder, Investment AB Latour, which holds approximately 49%, as well as Lannebo Fonder and Swedbank Robur Fonder which together hold a further approximately 12%, have confirmed both their support for the transaction and their intention to subscribe pro rata the capital increase envisaged to repay the bridge loan which will be activated for the cash portion of the price.
