(Alliance News) - Beewize Spa on Monday evening disclosed that negotiations between Beewize and its parent company, Orizzonti Holding Spa, and on the other side, Mexedia SB Spa and the latter's majority shareholder, Heritage Ventures, concerning a possible corporate integration of Beewize and Mexedia through a proportional merger by incorporation, have broken down.

In this regard, the note says, "it is clarified that the parties have found it impossible to come to the signing of a binding agreement concerning the terms of the transaction."

Beewize's board of directors has instructed the chairman to continue evaluating hypotheses for the implementation of the group's strategic development plan.

Beewize is 0.7 percent in the red at EUR0.70 per share.

By Maurizio Carta, Alliance News reporter

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