Istituto Poligrafico e Zecca dello Stato and Poste Italiane have completed the acquisition of PagoPA’s share capital, holding 51% and 49% respectively. On 28 July, following the notification submitted in accordance with merger control regulations, the Italian Competition and Market Authority (AGCM) decided to authorize the transaction without opening a formal investigation.
Completion of the Transaction
The transaction follows what was announced to the market on 19 December 2025, when the companies accepted the offer received from the Ministry of Economy and Finance, exercising – in compliance with the provisions of Legislative Decree No. 19/2024, converted with amendments by Law No. 56 of 29 April 2024 – the purchase option relating to the acquisition of the stake in PagoPA’s share capital. Therefore, upon the fulfilment of all precedent conditions, the transaction was finalised today.
Acquisition of the Equity Stakes
The total consideration for the acquisition of the equity stakes is up to a maximum amount of approximately 500 million euros, consisting of a fixed component as well as deferred and variable components. Simultaneously, pursuant to the aforementioned regulations, Istituto Poligrafico e Zecca dello Stato, as the majority shareholder, will exercise sole control over PagoPA.
