INDUSTRIE POLIECO M.P.B. IS EXPANDING ITS SHAREHOLDER BASE

Industrie Polieco M.P.B. S.p.A., a leading European company for the production of corrugated piping systems and manhole covers in composite materials, and internationally one of the main players in the production of compounds and adhesives in the Oil&Gas and packaging industry, announces the signing of binding agreements preparatory to the entry of holding company RedFish Long Term Capital S.p.A. (“RFLTC”) in the share capital of the Company.
The investment in Polieco, which will result in RFLTC holding a 10% stake in the company’s share capital, will take place through the underwriting – through a newly established company controlled by RFLTC itself and partly owned by additional investors – of Polieco shares for a total value of 20 million Euro.
In accordance with the provisions of the existing agreements, RFLTC was also granted the right to purchase from T.P. Holding, the Company’s controlling shareholder, additional Polieco shares in the amount of 10 million Euro, representing a further 5% of the Company’s share capital.
The completion of the transaction is subject to the fulfilment of certain conditions precedent in line with market practice.
RFLTC’s investment will provide the Company with additional financial resources to support the investments set forth in the industrial plan, and in particular to foster a new phase of internationalisation of activities, also potentially through selected acquisitions.
As a result of the investment T.P. Holding will remain the controlling shareholder of the company with a stake of 85% of the share capital.

T.P. Holding and Industrie Polieco MPB were supported for structuring aspects by Banca Akros as financial advisor, by Wepartner as strategy advisor, for legal and contractual aspects by Chiomenti and for financial and tax due diligence by Ernst & Young. RedFish Long Term Capital S.p.A. was assisted by Gitti and Partners with regard to legal and contractual aspects.