Borgosesia negotiates to amass OneOSix and points bonds for 50 million | EUROtoday

Listen to the audio model of the article

The Board of Directors of Borgosesia Spa (listed on Euronext Milan) – which operates within the subject of investments in different belongings – has determined to begin an unique negotiation, by way of BGS Alternative Srl, of your complete capital of the Veronese OneOSix, an organization specialised in buy and administration of impaired loans. For their half, the OneOSix shareholders have formally agreed to the proposal to begin negotiations aimed on the acquisition of your complete capital by Borgosesia.

The functions

The operation – whose conclusion is topic to the constructive consequence of due diligence actions and binding agreements – is a part of this system to strengthen different actions envisaged by Borgosesia's 2024-2026 Strategic Plan, authorised final December, which goals to speed up the expansion of service actions supplied by Borgosesia to third-party traders, considerably increasing the vary of choices and benefiting from the corporate's buyer community.

The operation – in accordance with Borgosesia – additionally has a major strategic significance as a result of it permits the extension of the Piedmontese firm's exercise to buying and selling on impaired loans and the era of recent selective funding alternatives, together with any positions which can be nonetheless “active” (UTP and Internship 2), in addition to to actively intervene within the monetary restructuring processes of particular person debtors.

Borgosesia expects to learn, by way of the consolidation of OneOSix, amongst different issues from the era of fee flows and revenues unbiased of its direct funding actions. At the top of final yr, OneOSix had a internet price of three.4 million euros and a CET1 ratio of 46.8%, which ensures room for progress in intermediation actions and operational synergies with Borgosesia.

The acquisition operation begins from a valuation of your complete capital of OneOSix of 5.5 million and supplies for fee of the associated consideration for about 45% on the closing and, for the rest, on the expiry of the twenty fourth following month towards the popularity of deferral curiosity equal to the 3-month Euribor elevated by a ramification of fifty foundation factors. Taking into consideration the character of OneOSix as a supervised entity, the transaction can be topic to zero purchase of the Bank of Italy, to which the request shall be forwarded in May.