(Alliance News) - Ecosuntek Spa announced Tuesday that Eco Trade Srl, a 63.40 percent subsidiary, has finalized the purchase of a 46.775 percent stake in +Energia Spa for a total of EUR23.0 million. The transaction had already been announced to the market in previous months.

The shares were achieved through the acquisition of the 19.90% held by P.M., compared with the 17.90% originally agreed in the preliminary agreement signed last July 31, and the 26.875% held by Soni Mar Invest Srl.

CEO Matteo Minelli commented, "This important acquisition represents for Ecosuntek the final laying of the missing piece to make the offer of the

group. The Ecosuntek group deals with the entire management of the energy supply chain, from production to distribution and sale to the private and business sector on the national territory."

"Thanks to this operation," the CEO added, "we could further expand our market penetration, particularly in the retail sector, which we believe could have important growth margins in the coming years. We could not have chosen a better partner than +Energia to accompany us on this path. A 15-year past in the energy sales market and openness to innovation made +Energia the ideal partner for our project. Now we can say that we represent a 360-degree offering, with solid foundations, in the national energy supply chain ready to take advantage of market opportunities. Most importantly, it is an offer based on renewable energy that is experiencing an unprecedented period of growth, as well as having a low environmental impact."

Ecosuntek's stock on Tuesday closed down 1.3 percent at EUR22.30 per share.

By Chiara Bruschi, Alliance News reporter

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