Press releases

10 Apr 2019 17:37
Signed the agreement for the acquisition of 100% of IOS Finance

BFF Banking Group (“BFF” or the “Group”) informs that today has signed the shares Sale and Purchase Agreement (“SPA”) for the acquisition of 100% of the share capital of IOS Finance, E.F.C., S.A. (“IOS Finance” or the “Target”), on the terms already agreed upon under the Agreement communicated to the market with the press release dated March 27th, 2019, to which reference is made for further details.

Following the waiver of the Right of First Refusal (“ROFR”) by the minority shareholder not participating to the Agreement of March 27th, and holding 27.6% of IOS Finance’s share capital, the SPA has been signed by all the Target’s shareholders and relates to the transfer to BFF of the shares representing 100% of the share capital of IOS Finance.

The completion of the acquisition of 100% of IOS Finance by BFF is subject to (i) non-opposition of Bank of Spain and (ii) notification to Bank of Italy. The closing of the transaction is expected to take place within the 3rd quarter of 2019.