New partners for Italia Independent

Italia Independent and its majority shareholder – Lapo Elkann – have signed an agreement with Creative Ventures (the capital of which is held entirely by closed-end fund Talent EuVECA operated by Avm Gestioni sgr) for an increase in share capital and the latter’s entrance in the Turin company.
The agreement envisages two increases in capital: the first of 6 million euros is by Creative Ventures, which will give it approximately 25.44%; the second is by Elkann who undertakes to underwrite an increase of 2 million euros and will remain, also at the end of the operation, the majority shareholder with 53.59%.
When the operation is complete the capital in Creative Ventures will be held by Avm and Centurion Global Fund Sicav and, as stated in a company communication, “possibly by other select investors”.