Significant events during the period and events after 31 march 2023.
Net Insurance S.p.A.
On 28 September 2022, the Board of Directors of Poste Vita approved the promotion of a voluntary total cash takeover bid for ordinary shares and warrants of Net Insurance S.p.A. (“Net Insurance”), in consultation with certain shareholders. Net Insurance, a company with shares traded on the regulated market known as Euronext STAR Milan (“ESM”) organised and managed by Borsa Italiana S.p.A., is an insurance company whose offer is dedicated to insurance coverage related to the credit sector and, in particular, of salary and pension-backed loans, protection and insurtech thanks to agreements with technology partners.
the squeeze-out procedure was finalised on 20 April 2023. As a result, Net Holding (a corporate vehicle directly controlled by Poste Vita that promoted the bids) holds a controlling interest in Net Insurance of 97.84%, and the current CEO of Net Insurance, who acted in concert with the takeover bid, holds a minority interest of 2.16%. The total disbursement paid by Net Holding amounted to approximately €180.8 million.
On 21 April 2023, IBL Banca S.p.A., in accordance with its commitment in the event of a successful bid, acquired a 40% stake in Net Holding for a consideration of €73.1 million. The total outlay for the acquisition of the stake by the Poste Group amounted to €108.5 million.
sennder Technologies Gmbh
On 3 April 2023, as a result of the capital increase reserved for the shareholder sennder Technologies GmbH, Poste Italiane’s stake moved from 65% to 60%.
The following corporate actions also took place in the first quarter of 2023.
- On 24 January 2023, Sourcesense finalised the acquisition of Eco-Mind Ingegneria Informatica S.r.l. and its subsidiary HeadApp S.r.l., IT companies operating as software factories specialising in the design and development of business, mobile and cloud-native solutions and augmented and virtual reality solutions, for a consideration of €1.1 million.
- On 24 November 2022, binding agreements were signed for Poste Italiane to participate, with an investment of approximately €3 million, in a further capital increase promoted by Moneyfarm in order to finance part of the purchase price of 100% of Profile Financial Solutions Ltd, a company active in the pension fund consolidation business in the UK under the Profile Pensions brand. The transaction is expected to be closed in the second quarter of 2023.