Poste Vita S.p.A. and IBL Banca S.p.A. (the "Offerors"), have acquired Net Insurance S.p.A. ("Net Insurance," the "Issuer" or the "Company"), through a voluntary tender offer aimed at acquiring (i) all of the Issuer's ordinary shares less no. 400,000 shares held by Mr. Andrea Battista, Chief Executive Officer of the Issuer, resulting in the delisting from Euronext Milan, STAR Segment, of the Shares, and (ii) the entirety of the warrants named "Warrant Net Insurance S.p.A." (the "Warrants") issued by the Issuer and outstanding, resulting in the delisting of the Warrants from Euronext Milan, STAR Segment. In particular: 
- for each Share tendered, the Offerors paid a consideration of Euro 9.50;
- for each Warrant tendered, the Offerors paid a consideration of Euro 4.81.

Net Insurance, with over €185m of gross written premiums (GWP) underwritten in 2022, is an insurance company focused on credit insurance products, and in particular salary-backed loans and pension-backed loans ("CQ"), protection products (through non-life/non-motor bancassurance agreements and brokers) and (to a very limited extent) insurtech, due to agreements with technology partners.

Vitale acted as Net Insurance's financial advisor in the transaction and provided the Board of Directors of Net Insurance with a fairness opinion on the fairness, from an economic and financial point of view, of the consideration offered.
 

€181m