Promoters of Made in Italy 1, the first Italian Spac (Special purchase acquisition company), make room to global asset management giant Franklin Templeton in the shareholders capital of Sesa, the Italian leading company in software and hardware distribution to small and medim enterprises, led by ceo Alessandro Fabbroni and listed at the Italian Stock Exchange.
Sesa was actually listed at Borsa Italiana in February 2013 after a reverse merger with Spac Made in Italy 1, which had been trading on Aim Italia since June 2011, after having raised 50 million euros among investors (see here a previous post of BeBeez).
In the last few days Franklin Templeton acquired with a block trade Sesa shares for a 6.379% stake in company’s capital so that it became the biggest institutional investors in Sesa, before Norges (2,36%). Seller to Franklin Templeton was for the most part Genus srl, the holding company owned by Made in Italy 1 promoters, who are Simone Strocchi, Luca Giacometti and Matteo Carlotti and the advisory company Electa /led by Strocchi) and its partners. Genus cut its stake to a 0.958% from previous 5.003% and, as far as MF-Milano Finanza writes today, Genus will retain its remaining stake with a medium-long term investment view.
Floating capital of Sesa reached than a level which is due in order to be admitted to high quality companies segment Star of Borsa Italiana which is Sesa’s aim (Sesa tranferred itself from listing on Aim Italia to Mta principal market last Autumn).
In the meantime Sesa shareholders’ meeting approved fiscal year ending Arpil 2014 financial statements which showed consolidated revenues for 941 million euros (from 832,3 millions in 2012), an ebitda of 49,5 millions (from 44,2 millions) and a net profit of 21.2 millions (from 20.5 ), with a net financial debt of 26.2 millions (from 31.7). Sesa shareholders’ meetingalso approved the distribution of a 45 cents dividend per share for a total consideration of up to 6.9 millions.