Read the press release in PDF format here (in Italian)
REDELFI DIVESTS MAJORITY STAKE IN PIANO GREEN S.R.L. AND FOCUSES ON DEVELOPMENT OF GREEN BUSINESS UNIT
The stake in the startup belonging to the GreenTech Business Unit is reduced to 10 percent.
Milan, April 5, 2023
Redelfi S.p.A. (“Redelfi” or the “Group”), a management company with operational headquarters in Genoa committed to the green and digital transition and listed on the Euronext Growth Milan segment of Borsa Italiana, following up on its announcement on March 15, 2023, announces that it has sold, through its Swiss-registered subsidiary Green Earth S. A. (“Green Earth”), a 49.37% stake in the Italian-registered company Piano Green S.r.l. (“Piano Green”) to Santagata 1907 S.p.A, former founding partner of the same.
With the completion of the aforementioned sale, Green Earth retains a 10% stake in the share capital of Piano Green, while Santagata 1907 S.p.A. becomes the majority shareholder with a 62.50% stake. The other shareholders, FOS S.p.A. and Dr. Fabienne Moretta, retain their stakes of 24.37% and 3.13%, respectively.
The divestment is part of Redelfi’s strategy to focus on the Green Business Unit, and in particular on the development of Battery Energy Storage Systems and the establishment of Renewable Energy Communities. Despite the undoubted ESG value of the Green Plan activities, in fact, its operational management implied a particularly significant economic and internal human resources commitment, to the detriment of the acceleration on the activities that to date are the Group’s main drivers.
Retaining a minority stake, however, reflects the conviction about the value of the project pursued by Piano Green, whose aim is to contribute to a more sustainable and productive future, in line with the ESG values shared by Redelfi.
Davide Sommariva, Chairman of the Board of Directors of Redelfi S.p.A. commented, “The time has come to focus entirely on the Green Business Unit, the acceleration of which is proudly exponential and requires a total commitment from all of us. We have long thought about divesting our shares in Piano Green, as we fully espouse the startup’s ESG values and believe in its project; for this reason, we felt that retaining a stake – albeit a minority one – is of absolute importance for our Group, which shares the same principles.”
This press release is available on the website www.redelfi.com, Investor Relations > Press Releases section and at www.1info.it.
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Redelfi is the parent company of the Redelfi Group active in the digital and green transition through three Business Units operating in the Green, MarTech and GreenTech sectors. Each Business Unit adopts a highly innovative approach in defining products, services, and processes with a strong focus on compliance with ESG principles in business management. In the 2022 fiscal year, the Group achieved a Production Value of EUR 4.5 million and a Net Income of EUR 0.27 million. Its Net Financial Position was EUR 0.6 million and its Net Equity was EUR 9.3 million. In 2022, the Group made investments of approximately EUR 6.4 million.
Contacts:
ISSUER
Redelfi | Investor Relations Manager | Erika Padoan | investor-relations@redelfi.com | T: +39 320 7954739 | via A. Scarsellini, 119 Torre B “I Gemelli” 11 piano, 16149 Genova
Redelfi | Media Relations | Carolina Beretta | carolina.beretta@redelfi.com | via A. Scarsellini, 119 Torre B “I Gemelli” 11 piano, 16149 Genova
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IR Top Consulting | Investor Relations | ir@irtop.com | T: + 39 02 4547 3884/3 | Via Bigli, 19 – 20121 Milano
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EURONEXT GROWTH ADVISOR & SPECIALIST
Integrae SIM | info@integraesim.it | T: +39 02 96846864 | Piazza Castello, 24 – 20121 Milano
