Kinexia SpA (BIT:KNX) agreed to acquire Sostenya S.p.a. from Pietro Colucci for €59.3 million on April 3, 2014. Under the terms, Kinexia shall acquire 5 million shares and issue 4.971 Kinexia ordinary shares for every Sostenya ordinary share. For the year ending December 31, 2013, Sostenya reported revenues of €87.7 million, earnings before interest, taxes, depreciation, and amortization of €35.4 million. As announced on April 4, 2014, the Board of Directors of Kinexia and Sostenya approved the merger. The deal is subject to approval by the shareholders' meetings of Kinexia and Sostenya and to Kinexia exempting Pietro Colucci from having to launch a public takeover bid on Kinexia. As of May 26, 2014, the transaction was approved by the shareholders of Kinexia and Sostenya.

Irving Bellotti and Alessandro Bertolini Clerici of Rothschild Italia SpA acted as financial advisors for Kinexia. Chiomenti Studio Legale acted as legal advisor and Marco Lacchini acted as fairness opinion provider for independent Directors of Kinexia.

Kinexia SpA (BIT:KNX) completed the acquisition of Sostenya S.p.a. from Pietro Colucci on August 11, 2014.