(Alliance News) - Borgosesia Spa announced Thursday that its board has resolved to reorganize its holdings in companies in the alternative sector.

The holdings will all be merged into BGS Alternative, which, therefore, like Borgosesia Real Estate for the real estate one, will assume the role of sub-holding company for the sector.

In addition, the board of directors appointed Stefano Pedrini to the executive committee and took note of the strengthening of the position of the shareholder ISA, which reached an agreement - subject to the clearance of the supervisory authorities - regarding the transfer of the shareholding held by DDM in Borgosesia, amounting to 5 percent of the capital, and, in this context - in favor of ISA itself and other investors - the purchase of all the notes subscribed as part of the AssetCO securitization, amounting to EUR6.0 million.

Within this framework, Borgosesia acceded to DDM's request for an early termination of the co-investment agreement entered into at the time, being able to count on further opportunities for development with the reference shareholder in the field of investments in alternative assets and being able to pursue new further collaborations with other market participants.

Borgosesia's stock closed Thursday up 0.6 percent at EUR0.70 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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