Brainspark PLC (BSP) - Majority Acquisition of Sipiem
RNS Number : 9075P
31 October 2012
31 October 2012
("Brainspark" or "the Company")
MAJORITY OWNERSHIP OF SIPIEM SPA
Following the announcement of 2 August 2012, Brainspark, the AIM listed
international investment company (AIM: BSP), is pleased to announce that on 30
October it subscribed for an additional 11 per cent in Sipiem SpA through an
increase in capital. The consideration is EUR 800,000, which will take
Brainspark's holding to 51 per cent. The transfer of the Sipiem shares to
Brainspark will complete on or before 30 November.
Sipiem is a construction and leisure company based in Biella Italy, which
specialises in the creation and building of theme parks, including Ondaland,
Italy's largest water park. Alfredo Villa has been appointed CEO of Sipiem
from 30 October.
Sipiem is currently building Italy's first Family Entertainment Centre (FEC)
and is seeking further acquisitions in the leisure and theme park sectors.
Alfredo Villa, CEO of Brainspark, commented, "With our recent placing of £2.8m
Brainspark is beginning to complete its outstanding strategic acquisitions to
gain control of some of the best Italian companies operating theme parks,
hotels and restaurant chains. Once we hold the controlling share in these
companies, including Ora Hotel Group, we will develop the synergies between
them. I am very happy to have been appointed CEO of Sipiem; to help them to
implement this consolidation and synergistic strategy."
Ennio Coda, President of Sipiem, said, "I am glad to have closed the deal with
Brainspark. This increase in capital will be used to further develop Sipiem.
Also, we are working closely with Brainspark and the board of Mediapolis to
offer our planning and development expertise to help maximise the value of the
land, designated the 'Mediapolis Theme Park', in northern Italy."
Ennio Coda has 30 years' experience in the construction and leisure sectors,
having been the Chairman of Beni Stabili, a board member of Mirabilandia, CEO
of Valtur, and Chairman of Sotim spa.
For further information please contact:
+39 02 525 051
Alfredo Villa, CEO
+44 (0) 20 7601 6100
+44 (0) 7795 168 157
About Brainspark Plc
Brainspark plc (AIM: BSP) is an AIM listed investment company pursuing a
dynamic strategy to create a comprehensive portfolio of companies primarily
encompassing the leisure and real estate sectors mainly in Italy but also
other European countries. The Company may be either a passive or active
investor and Brainspark's investment rationale ranges from acquiring minority
positions with strategic influence through to larger controlling positions.
For further information, please visit, www.brainsparkplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
MSCLFFFIITLIVIF -0- Oct/31/2012 07:00 GMT
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