Markets, Fon-Sai sold its stake in ADF

Fondiaria-Sai has sold its stake in ADF (2.053%) to Chamber of Commerce of Florence and Prato in the Italian market. The operation was announced today at a press conference. The two Chambers have acquired the entire package: Chamber of Commerce of Florence rises to 15.456% stake in company, while the Chamber of Commerce of Prato rises to 5.113%.

The total investment is about 2.3 million by the two Chambers for a total of 185,500 shares. According to financial sources said, Florence has acquired 1,025% of ADF at a price of 11.4 euros per share, while Prato-share paid 13.88 for the same stock. The public members of the syndicate (expires on 31 October 2012) which includes the City of Florence (2.18%), it grows to 22.75% of the capital.

“The new package of measures – say the presidents of the two Chambers, Vasco Galgani and Carlo Longo, in a joint statement – now allow a strenth rapresentation inside of ADF, in a logic of collaboration in the metropolitan area, to ensure the development of a strategic infrastructure for the competitiveness of the territory.”