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ILLA and Bialetti have signed a framework agreement which governs the transfer, by Bialetti to ILLA, of the business branch consisting of the complex of assets functional to the procurement, distribution and marketing of branded products “Eternal”.
The operation will be structured in two phases: the first concerns the contribution, by Bialetti, of the Aeternum Business Branch to a NewCo and the second concerns the transfer by Bialetti to ILLA or a company designated by it, of the share capital of the newly established company.
In detail, the agreement provides that ILLA pays Bialetti, as consideration for the sale, 3.8 million on the execution date and an earn-out of 1.5 million upon reaching specific target.