Trinity Investments Limited, a fund managed by Attestor Capital LLP signed an agreement to acquire 68.8% stake in Banca Intermobiliare di Investimenti e Gestioni SpA (BIT:BIM) from Veneto Banca S.p.A. for €24.1 million on October 25, 2017. As part of consideration, Trinity Investments will pay €0.22411 per share for 68.807% stake with a provision of a potential earn-out based on results to end 2021. The maximum consideration for the 68.8% stake including the potential earn-out is capped at €71.83 million. In addition to this, Trinity has a provision to acquire additional 2.606% stake in Banca Intermobiliare di Investimenti e Gestioni from Veneto Banca, representing Veneto Banca’s balance stake in Banca Intermobiliare di Investimenti e Gestioni at the same price of €0.22411 per share within a period of two years at the occurrence of certain events envisaged by the contract. Attestor Capital LLP will be obliged to launch a mandatory bid for rest of the stake in Banca Intermobiliare di Investimenti e Gestioni SpA at the same price of €0.22411 per share. As of April 9, 2018, authorization for the transaction has been received and the transaction is expected to be executed by April 23, 2018. Lazard acted as financial advisor for Veneto Banca. Studio Legale Lombardi, Segni & Associati acted as the legal advisor to Veneto Banca. Vitale&Co. S.P.A. acted as the financial advisor and Bonelli Erede Pappalardo Studio Legale acted as the legal advisor to Attestor Capital LLP and Trinity Investments Limited. Paolo Ludovici, Loredana Conidi and Stefano Tellarini of Ludovici Piccone & Partners acted as legal advisor to Attestor Capital. Ernst & Young acted as the due diligence provider to Attestor Capital on the transaction. Trinity Investments Limited, a fund managed by Attestor Capital LLP completed the acquisition of 68.8% stake in Banca Intermobiliare di Investimenti e Gestioni SpA (BIT:BIM) from Veneto Banca S.p.A. on April 17, 2018. Under the terms of the transaction, Trinity acquired 107.48 million shares of Banca Intermobiliare di Investimenti e Gestioni at an initial price of €0.22411 per share and earnout consideration to be paid at maximum €0.66833 per share for a maximum total price per share of €0.89244. Giorgio Girelli will resign from the Board of Directors of Banca Intermobiliare di Investimenti e Gestioni. Following the completion of the acquisition of the controlling interest, Trinity is required to promote a mandatory tender offer on the other BIM shares.