Digital360 S.p.A. (BIT:DIG) signed a binding agreement to acquire 51% stake in Emprendimientos Aereos S.R.L. from Simone Battiferri and Fabricio Riccitelli for 0.4 million on January 25, 2022. The consideration of 0.4 million will be payable in cash at closing. For the year ended March 31, 2021, Emprendimientos Aereos recorded revenues of approximately 1.1 million and EBITDA of approximately 0.09 million.
Fabricio Riccitelli has been appointed as director of Emprendimientos Aereos and will continue to perform his role as Chief Executive Officer for at least 3 years from the acquisition.