Brainspark PLC BSP Majority Acquisition of Sipiem

  Brainspark PLC (BSP) - Majority Acquisition of Sipiem

RNS Number : 9075P
Brainspark PLC
31 October 2012





31 October 2012



                                Brainspark Plc

                       ("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.



                                    -ends-



For further information please contact:





Brainspark
Plc
+39 02 525 051

Alfredo Villa, CEO



Westhouse      Securities 
 +44 (0) 20 7601 6100

Antonio Bossi

Jonathan Haines



Leander
PR
+44 (0) 7795 168 157

Christian Taylor-Wilkinson







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

END


MSCLFFFIITLIVIF -0- Oct/31/2012 07:00 GMT