Innovatec S.p.A. completed the acquisition of 51% stake in Gruppo Green Power S.p.A. from Christian Barzazi and David Barzazi.
Innovatec S.p.A. (BIT:INC) completed the acquisition of 51% stake in Gruppo Green Power S.p.A. (BIT:GGP) from Christian Barzazi and David Barzazi on September 16, 2015. The consideration of the transaction was paid, for 0.2 million in June 26, 2015, and for 4.8 million on September 16, 2015, of which 4 million through the acquisition financing provided by Banca Popolare di Milano and the remaining corresponding to 0.8 million through shareholder's loan by Innovatec . The remaining 2.65 million will be paid for 1.325 million on December 31, 2015, for 1.325 million on December 31, 2016.