Redelfi Approves Spin-off of Non-Core Holdings to Focus on Green Business Line

Redelfi Spa has approved the spin-off of its non-core holdings in Enginius Srl and RT&L Srl to focus on green business lines, specifically battery energy storage systems (BESS) in Italy and the US. Redeem Srl will acquire the stakes for approximately EUR800,000 and will increase its capital by 33.33% in return. Redelfi's share capital will be held 33.33% by Redelfi and 33.33% by TZU Srl, with the remaining shares held by Marinetta Srl and Intersidera Srl. Redelfi's stock is currently up 13% to EUR7.00 per share.