Retex Secures Majority Stake in Alkemy SpA Following Acquisition

Alkemy SpA has announced that Retex has acquired control of the company, prompting Retex to request a shareholders' meeting to appoint a new board. This development follows significant investment in Alkemy by Retex, as reported by Reuters.

Retex SpA, an Italian digital transformation and communication company controlled by Fsi Sgr, has announced its acquisition of control of Alkemy SpA [1]. As a result, Retex has requested a shareholders' meeting to appoint a new board of directors [1]. This move comes after Retex's voluntary public takeover offer of €12.00 per share, which aims to acquire 100% of Alkemy's shares and delist it from Piazza Affari [2].

The offer price, which represents a premium of 20.87% over the official value of Alkemy's shares [2], has caused Alkemy's stock to soar by 21.38% to €11.75 per share at 12 noon on Monday [2]. Retex's investment in Alkemy was reported by Reuters earlier this year [3].

Alkemy, a small to medium-sized enterprise (SME) listed on the Italian stock exchange (EGM), specializes in providing digital transformation projects to large and medium-sized companies. Some of its prominent clients include Adidas and Campari [2]. Duccio Vitali, Alkemy's managing director, holds 625,616 shares in the company, representing 11% of its share capital [1].

If the takeover bid is fully subscribed, Retex will pay a total of €68.2 million to acquire Alkemy [1]. The current status of the takeover bid and the upcoming shareholders' meeting is yet to be announced.

References:

[1] Alliance News. Retex launches takeover bid on Alkemy at 21% premium since last close. May 31, 2023. https://www.marketscreener.com/quote/stock/ALKEMY-S-P-A-38934442/news/Retex-launches-takeover-bid-on-Alkemy-at-21-percent-premium-since-last-close-46884319/

[2] Firstonline.it. Alkemy, the stock flies at Piazza Affari (+21,9%) after the takeover bid launched by Retex (Fsi Sgr). June 5, 2023. https://www.firstonline.info/en/alkemy-the-stock-flies-at-piazza-affari-219-after-the-lopa-launched-by-retex-fsi-sgr/

[3] Reuters. Retex invests in Italian digital transformation company Alkemy. April 10, 2023. https://www.reuters.com/business/media/retx-invests-italian-digital-transformation-company-alkemy-2023-04-10/