(Alliance News) - Equita Group Spa on Thursday announced the purchase of a 30 percent minority stake in Sensible Capital and the rebranding of the company to Equita Real Estate.

The acquisition will allow the group to add a new and important area of specialization dedicated to real estate advisory to its investment banking offering, leveraging the strong complementarity of Sensible Capital's business with Equita's activities, the company explained in a note.

In addition to Equita's minority stake in the company, the agreements signed also include the rebranding of Sensible Capital to Equita Real Estate, "with the aim of benefiting from the growing appeal of the Equita brand, and the joining of Silvia Rovere to the Equita Group Shareholders' Agreement, thus sanctioning the manager's entry - already a senior advisor to the group since August - into Equita's partnership of professionals.

In addition, the company announced that on Dec. 13 its subsidiary Equita SIM finalized the purchase of a stake in the Equita Private Debt Fund from an institutional investor.

"The transaction is aimed at increasing the group's co-investment in the first private debt fund -- from EUR5 million to approximately EUR11 million -- and to benefit more from the returns of a mature and performing portfolio. It should be noted that the investment was made at a discount to the fund's NAV," as the company explained.

Lastly, the company let it be known that Equita and the minority shareholders of Equita K Finance - Giuseppe Renato Grasso and Filippo Guicciardi, co-CEOs of the company 70% controlled by Equita - have decided to partially modify the agreements signed last July 2020, eliminating the put & call option structure and renegotiating some commitments, including duration.

The parties, in fact, considering the excellent results achieved in recent years, intend to extend the agreements over time, in view of the consolidation of the partnership with the group and the greater involvement of Grasso and Guicciardi at the parent company level.

Equita trades is flat at EUR3.57 per share.

By Claudia Cavaliere, Alliance News reporter

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