LEXIA, acting as legal advisor, assisted entrepreneur and publisher Giorgio Armaroli—active for over forty years in the publishing industry both nationally and internationally—in the acquisition of 75% of the share capital of Athena Pubblicità, which in turn holds an 89.94% stake in Visibilia Editore, a company listed on the Euronext Growth Milan market organized and managed by Borsa Italiana.
The transaction was completed free of charge, without any direct or indirect payment or other financial benefit of any kind in favor of the sellers.
Due to the gratuitous nature of the transaction, the buyer was not required to launch a mandatory takeover bid for the remaining ordinary shares of Visibilia Editore not held by Athena, as gratuitous inter vivos transfers fall within the exemption cases expressly provided for under Article 106, paragraph 5, letter f) of the Italian Consolidated Financial Act (TUF), as well as Article 49, paragraph 1, letter h) of the Issuers’ Regulation, as referenced by Article 6-bis of the Euronext Growth Milan Issuers’ Regulation adopted by Borsa Italiana and Article 9 of the bylaws of Visibilia Editore.
The acquisition of Athena and its directly or indirectly controlled subsidiaries is part of a broader development plan for Visibilia and its publications undertaken by the buyer.
LEXIA’s team was led by partners Francesco Dagnino, Fabio Luongo and Andrea Maroni, supported by senior associate Andrea Peruzzo and associates Marco Pontiggia, Giorgia Pignatelli, and Gabriel Zurlo Sconosciuto.
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