March 28, 2018 / 6:35 AM / 5 months ago

BRIEF-Digital360 Signs biding Agreement for Acquisition of 51% Stake in ServicePro Italy

March 28 (Reuters) - Digital360 SpA:

* ANNOUNCED ON TUESDAY SIGNING OF BINDING AGREEMENT FOR ACQUISITION OF 51 PCT HOLDING IN SERVICEPRO ITALY SRL, MARKETING AGENCY SPECIALISED IN ORGANISING COMPLEX EVENTS AND MANAGING DEMAND GENERATION AND LEAD GENERATION CAMPAIGNS

* PROVISIONAL PRICE FOR THE PURCHASE IS 2 MILLION EUROS AS WELL AS 51% OF THE NFP AT THE DATE OF CLOSING, AND WILL BE PAID IN CASH IN 2 TRANCHES

* DIGITAL360 ALSO HAS AN OPTION, EXERCISABLE IN 2021, TO ACQUIRE THE REMAINING 49% AT A PRICE THAT WILL BE CALCULATED ON THE BASIS OF THE AVERAGE EBITDA ACHIEVED BY SERVICEPRO IN FINANCIAL YEARS 2018,2019 AND 2020 AND MULTIPLIED BY 5.25

* SELLING PARTNERS WILL BE ASSIGNED A PUT OPTION FOR THE SAME COMPANY SHARES AND AT THE SAME CONDITIONS

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Further company coverage: (Gdynia Newsroom)

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