UK markets open in 7 hours 23 minutes
  • NIKKEI 225

    26,491.97
    +320.77 (+1.23%)
     
  • HANG SENG

    21,719.06
    +445.16 (+2.09%)
     
  • CRUDE OIL

    106.57
    -1.05 (-0.98%)
     
  • GOLD FUTURES

    1,833.30
    +3.00 (+0.16%)
     
  • DOW

    31,500.68
    +823.28 (+2.68%)
     
  • BTC-GBP

    17,205.49
    -336.80 (-1.92%)
     
  • CMC Crypto 200

    462.12
    +8.22 (+1.81%)
     
  • ^IXIC

    11,607.62
    +375.42 (+3.34%)
     
  • ^FTAS

    3,975.07
    +100.39 (+2.59%)
     

Italy's Be jumps 6% after TIP signs final deal to sell stake to Engineering

·1-min read

MILAN (Reuters) - Investment group Tamburi Investment Partners (TIP) said on Monday it had signed binding agreements for the sale of its stake in Be Shaping the Future (Be) to Engineering, driving the Italian consultancy firm's stock up as much as 6.4%.

The deal, under which TIP and the Achermann family will sell an overall 43.21% holding in BE to Engineering at a price of 3.45 euros per share ($3.63), was announced in February.

It is aimed at the de-listing of Be following a takeover bid on the remaining shares Engineering will be obliged to launch.

Engineering Ingegneria Informatica, active in the information and communications technology field, is owned by private equity fund Bain Capital and investment fund NB Renaissance Partners.

"The competences in IT digital consulting and the customer base of Be complement the capabilities, the commercial presence and the digital technologies' know-how of Engineering," said Fabio Cané, Senior Partner of NB Renaissance.

By 1015 GMT, Be shares were up 5.97%, outperforming a 0.6% rise in Milan's all-share index, while Tamburi was trading down 0.3%.

($1 = 0.9494 euros)

(Reporting by Federico Maccioni, editing by Agnieszka Flak)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting