Avio agrees to sell 7% minority stake to Advent via new share issuance at EUR 33.4 each

Advantage Insurance

Advantage Insurance

AVI

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  • Advent agreed to buy a minority stake in Avio via a reserved capital increase, taking about 7% on a pre-money basis.
  • The deal calls for up to 3,275,268 new shares at EUR 33.4 each, for gross proceeds up to about EUR 109.33 million.
  • Advent will pay the full subscription amount in cash at closing.
  • Completion is conditional on customary approvals, including Italian golden power clearance.
  • Advent will be subject to a 12-month lock-up from closing, with limited early-release triggers.


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