Carraro S.p.A. and Carraro International SE contribute their participations held in Elettronica Santerno SpA and enter into Enertronica S.p.A.’s share capital

23 November 2018

On November 22, 2018, Carraro S.p.A. and Carraro International SE,  holding, inter alia, a participation in Elettronica Santerno S.p.A.  share capital equal to 49% of the same, entered into two agreements,  both subject to standard conditions precedent:       

  • the first one with Enertronica SpA, NTS S.r.l. and Plocco Trust (as  controlling shareholders of the aforesaid Enertronica) setting forth the  contribution in kind by Carraro and Carraro International of the entire  participation in Elettronica Santerno SpA against the issuance of  Enertronica’s shares representing a share capital’s percentage of the  same equal to 32,55 (32,8 of the voting rights);      

  • the second one only with NTS S.r.l. pursuant to which the same  purchased from Carraro SpA a portion of the participation arising from  the aforesaid contribution in kind – as soon as the same is issued –  equal to 4,69% of Enertronica SpA’s corporate capital (4,73% of the  voting rights).

As a result of the executions of the above agreement, Enertronica  will own the 100% of Elettronica Santerno’s corporate capital and Gruppo  Enertronica’s reorganization process will be speeded up also through  its business model’s evolution by focusing in the industrial and service  sector, with a contextual optimization of the organization structure to  stabilize the growth. 

The completion of the two transactions, to be considered as one  transaction and subject to the occurrence of certain preliminary  conditions, is envisaged by the end of the year. 

As a result of the above, NTS will hold a participation in  Enertronica SpA’s corporate capital equal to 30,09% of the same (30,39%  of the voting rights) while the Carraro Group overall will own a  participation equal to 27,86% of the same (28,41 of the voting rights).

Last update: 21 April 2019