DHH completes the acquisition of 60% of Bee Bee Web SA and 100% Hosting Star S.r.l.
Milan, 12 May 2017. Dominion Hosting Holding S.p.A. (“DHH”) (DHH.MI | WDHH21.MI) (ISIN shares IT0005203622 | ISIN warrants IT0005203689), a tech company whose mission is to create the “Internet Platform of the Emerging markets of Europe”, announces that today it has completed the first part of the transaction with Mr. Sergio Ravera. In particular, DHH has acquired from Mr. Ravera (i) 60% of the share capital of Bee Bee Web SA, a Swiss company engaged in the business of web hosting, and (ii) 100% of the share capital of Hosting Star S.r.l, an Italian reseller of Bee Bee Web.
The final consideration agreed by the parties for the abovementioned deals has been set at Euro 593,322.17, on a debt-free basis and after having taken into account both a) the agreement originally signed by DHH and Mr. Ravera on 10 February 2017 and b) the updated situation of both companies as at May 9 2017.
Today DHH has paid Euro 526.322,17 as a consideration for the abovementioned deals, while the rest has been kept by the company as security and will be paid in tranches over a period of 24 months.
As a result of this first part of the transaction, DHH now holds 60% of Bee Bee Web SA and is the sole owner of DHH Italia S.r.l. (previously Hosting Star S.r.l.). Mr. Sergio Ravera maintains his position as a CEO of Bee Bee Web SA and will become CEO of DHH Italia S.r.l.
The second part of the transaction (i.e. the contribution in kind of the remaining shares held by Mr. Ravera in BeeBeeWeb SA into DHH in return for the latter granting no. 40,000 newly issued shares in his favour – ref. press release, 10 February 2017) is expected to be closed within December 2017.