CLOSING COMPLETED FOR ACQUISITION OF PA GROUP

Retelit S.p.A. (“Retelit”), an Italian digital and infrastructure services leader, announces that today the entirely held company Retelit Digital Services S.p.A. (“Retelit Digital Services”), in execution of the contract signed on October 22, 2019, has signed the definitive contract to wholly acquire the share capital of Partners Associates S.p.A. (“PA Group”). 

Retelit’s Chairman Dario Pardi stated: “We are greatly satisfied to have concluded this transaction that projects Retelit into the future, making it a Group capable of playing a leading role in Italy and beyond, with a complete range of solutions both for the infrastructure and digital services and ICT sectors.  I would like to thank all those who helped to successfully conclude this transaction, from the management to the operating personnel and wish also to underline the close collaboration between the employees of Retelit and PA Group, which will be key to this merger’s success”.  

PA Group’s Chairman Ennio Baracetti underlined: “We are delighted to launch this project which today sees the creation of a unique entity on the Italian ICT market, bringing on stream integrated and tailor-made solutions to meet the needs of Italian businesses on entirely Group managed platforms. In recent months - since the signing of the binding agreement - we have already begun to take the first steps towards integration, meeting with the representatives of all company divisions and have quickly understood the close fit of the working groups and the expectations for the success of the collaboration in practice".