La Doria: green light from EU antitrust for the acquisition by Investindustrial

The competition DG of the European Commission has approved the acquisition of sole control of La Doria by Amalfi Invest Opportunities, a company based in Luxembourg and which belongs to the Investindustrial of the financier Andrea Bonomi.

 The Italian company is listed on Euronext STAR Milan and is a leader in the production of tomato derivatives, ready-made sauces, fruit drinks and preserved legumes. The Commission, a note reads, concluded that "the proposed acquisition would not raise competition concerns, given the limited overlap between the companies' activities and the moderate combined market positions resulting from the proposed transaction".

According to the joint press release, European Commission gave clearance for the 63.13% acquisition of the share capital of La Doria S.p.A. by Amalfi Holding S.p.A. on January 10, 2022; the closing of the agreement should be completed on January 31, 2022.
As previously announced, as a result of the closing, La Doria's new Board of Directors will take office and the shareholder agreements will come into force. Amalfi Holding shall be required to launch a full public tender offer on the remaining La Doria shares at the price of Euro 16.50 for each share.

The Ferraioli family will retain a minority stake in the Salerno-based company, but the company is destined to be delisted from the Milan Stock Exchange.

Some complementary data
Official press release is available on La Doria’s website, at:
https://www.gruppoladoria.it/medias/2686-cscommissioneeuropeagen2022ing.pdf

Sources: gruppoladoria.it, efanews.eu