(Alliance News) - Eems Italia Spa announced that it has closed the agreement to take over - through its subsidiary Eems Renewables Srl - the entire capital of a company that owns a project for the construction of a photovoltaic plant in Abruzzo with a nominal capacity of 923.4 KWp and the related administrative authorizations.

The consideration for the acquisition transaction was defined, among other things, through an adjustment mechanism linked to the SPV's equity and financial position resulting from the updated balance sheet as of the closing date, scheduled for June 19.

Giuseppe De Giovanni, managing director of Eems Italia, commented, "This acquisition is instrumental in the execution of the industrial plan, recently approved by the board of directors, regarding the company's commitment in the solar power generation sector."

Eems Italia's stock is up 6.0 percent at EUR0.030 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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