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Equita assisted B.F. in the setup of a strategic alliance with ENI and Intesa Sanpaolo

Equita assisted BF

Milan, November 19, 2021 - The Board of Directors of B.F. – holding company and group active over the entire supply chain of the agro-industrial industry – announced the signing of new agreements to i) start a collaboration with ENI in the agricultural research and experimentation domain, ii) sell a stake in Bonifiche Ferraresi to ENI and iii) propose to the Shareholders' Meeting of B.F. to resolve on a capital increase reserved to Intesa Sanpaolo to allow the bank to enter the share capital of B.F..

More in detail, B.F. has signed an agreement with ENI to establish a joint-venture (50%/50%) that will deal with research, experimentation, and analysis on oil plants’ seeds to be used as feed-stock for ENI's bio-refineries and eventually produce them in the countries abroad where ENI is active.

In addition to the setup of the joint-venture, ENI will acquire a minority stake in Bonifiche Ferraresi (5% to be sold by B.F. to ENI). The oil company will also enter the capital of B.F. (3.32% stake) through a dedicated capital increase.

The Board of Directors of B.F. also resolved to propose to the Shareholders' Meeting a capital increase reserved to Intesa Sanpaolo (under the same terms reserved to ENI) to let the bank enter into the share capital of B.F. with a 3.32% stake.

“Two great alliances that strengthen the strategic design and industrial positioning of the group, in addition to the important capital endowment. These partnerships open new markets, provide know-how and recognize the leadership of B.F. in the national agro-industrial sector” commented Federico Vecchioni, CEO of B.F..

Equita assisted B.F. as financial advisor with a team led by Carlo Andrea Volpe (Co-Head of Investment Banking). This transaction confirms the Equita's primary role in assisting entrepreneurs and large industrial groups in the structuring of strategic partnerships and in the execution of complex deals.

 

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B.F. S.p.A. is a holding company listed on the Milan Stock Exchange, whose shareholders include institutional investors, banks, and entrepreneurs. The company is active, through its subsidiaries, over the entire supply chain of the Italian agro-industrial industry: from the selection, processing, and market of seeds, to the land ownership and their processing through distribution brands or in partnership with the most important large-scale retail channels.