Gabetti Property Solutions spa and UBH United Business Holding spa signed a letter of intent on 27 September 2007 for the possible aggregation of their activities aimed at real estate franchising and credit brokerage. This was announced in a joint note from the two companies issued yesterday evening at the request of the stock exchange authorities and 'in order to restore information parity'.
The operation, we read in the note, should lead to the aggregation of these activities into two companies. The first company should operate in the real estate franchising sector with the Gabetti Franchising Agency, Grimaldi Franchising and Professionecasa brands. The second company should operate under the G.finance and Rexfin brands for credit brokerage and with the Assirex brand for insurance product brokerage.
The shareholdings of Gabetti Property Solutions and UBH in these two companies will be mirror images: in the first company (real estate brokerage) 51% Gabetti Property Solutions and 49% UBH; in the second (credit brokerage) 51% UBH and 49% Gabetti Property Solutions.
Due diligence is at an advanced stage. The parties intend to finalize the binding agreements by the end of November.
As of 6/30/2007, the real estate franchising company aggregates 1,267 operating agencies and 1,501 signed contracts. As of 30/6/2007, the credit brokerage company developed a total amount of 511 million with 207 financial shops.
Advisor of the operation: Avalon Real Estate and Lombardi Molinari e Associati law firm for Gabetti Property Solutions. The MGIM-SAP studio and Tamburi Investment Partners S.p.A. for UBH.
source: The Republic
Grimaldi Padua
Padua - 35137 - Via G. Matteotti, 27
e-mail: padovacentro@grimaldifranchising.it
Tel. +39 49 663 033 - VAT number 05301660287
Grimaldi Cadoneghe
Cadoneghe (PD) - 35010 - Via G. Franco, 2/A
e-mail: cadoneghe@grimaldifranchising.it
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