Verona / IT. (bp) Barilla Group and Banco Popolare have finalised a friendly agreement aimed at closing every contentious procedure relative to the purchase, by Barilla Group and by the former Banca Popolare Italiana, of the German company Kamps AG and, subsequently, of the Harry´s France SAS. The agreement foresees:
- the acquisition by a company controlled by Barilla Group of the entire stake held by Banco Popolare Group and by the Dutch foundation Stichting Bakery Finance of all assets held by them, both directly and indirectly, in the Harry´s (41.22 percent) and Kamps (41.22 percent) groups, at a stipulated price of 434 million Euro which for Banco Popolare does not entail any further negative impact on the profit and loss account;
- the reimbursement by Barilla Group to Banco Popolare Group of loan facilities, for a total amount of 70 million Euro;
- the consensual resolution of the shareholder agreement among Barilla Group and Banco Popolare Group;
- the resolution of all controversies deriving from the execution and interpretation of the contract between Barilla Group and Banco Popolare Group in relation to Kamps and Harry´s;
- the granting by Banco Popolare Group of a loan financing of 506 million Euro, with a duration of 13 years, which shall have the characteristics of the opening of a medium / long-term revolving credit line in favour of GELP S.p.A., the company wholly owned by CO.FI.BA S.r.l. (Barilla Group).
Through this operation, Barilla Group acquires and settles all equity and financial transactions related to the operations of Kamps and Harry´s, including the financings granted by Banco Popolare Group and Efibanca within the operation. Massimo Minolfi, Banco Popolare´s General Manager in charge of Corporate business notes «this agreement has been made possible by virtue of the willingness of all parties involved in the negotiation to make one step back with respect to the problems of the past while, together, moving one step ahead in facing the future».
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