(Alliance News) - Biesse Spa on Monday announced that, the conditions precedent stipulated in the acquisition agreement having been fulfilled, the acquisition of the entire share capital of GMM Finance Srl, the holding company heading the GMM Group to which GMM Spa, Bavelloni Spa and Techni Waterjet Ltd, as well as their respective Italian and foreign subsidiaries, active in the sectors of machine tools for processing stone, glass and other materials, belong, has been completed.

The provisional acquisition consideration of approximately EUR69 million was fully settled in cash starting from an enterprise value of EUR86.5 million and taking into account a Net Debt Financial Position.

Biesse trades in the red by 1.1 percent at EUR12.12 per share.

By Claudia Cavaliere, Alliance News reporter

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