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Investimenti e Sviluppo SpA to Acquire 40% Stake in M2 Pictures; Sells 5% Stake in Moviemax Media Group SpA to M2 Holding Srl


Thursday, 24 Jan 2013 01:04pm EST 

Investimenti e Sviluppo SpA announced that, on January 24, 2013, it has signed a preliminary agreement for the acquisition of 40% stake in the share capital of M2 Pictures from M2 Holding Srl for a total of EUR 2 million. M2 Pictures is a wholly-owned subsidiary of M2 Holding Srl. The closing is expected by the end of February 2013. The agreement also entails that Investimenti e Sviluppo SpA sells to M2 Holding Srl 3,333,333 shares of Moviemax Media Group SpA, equal to approximately 5% stake of Moviemax Media Group SpA, at the price of EUR 0.30 per share, for a total of EUR 1 million. 

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18 Sep 2014