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Financials

BRIEF-Azimut Unit To Buy Going Concern Of Sofia SGR Investment Management Business

Feb 20 (Reuters) - AZIMUT:

* VIA UNIT ENTERS INTO AGREEMENT TO BUY INVESTMENT MANAGEMENT BUSINESS’ GOING CONCERN OF SOFIA SGR

* AT CLOSING DATE, AZIMUT SGR WILL PAY TO SOFIA SGR AN INITIAL PURCHASE PRICE OF EUR 3 MILLION

* ADDITIONAL PORTION OF PRICE TO BE DETERMINED ON BASIS OF PERFORMANCE AND NET PROFITABILITY

* FOLLOWING THE DEAL, AZIMUT SGR WILL TAKE OVER MANAGEMENT OF FOUR FUNDS, ADD 47 FINANCIAL ADVISORS, WITH 800 MILLION EUROS OF ASSETS UNDER MANAGEMENT Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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