Brera Holdings (BRE) has announced the details of the three-step purchase process that will result in the acquisition of a majority stake in Italian Serie B football club SS Juve Stabia. Brera Holdings previously announced the signing of a binding term sheet for the takeover of Juve Stabia during a press conference in Naples on December 9. Brera Holdings has agreed to acquire a majority stake in Juve Stabia through share capital and reserve increases in the club. These will be made by Brera through cash payments and issuance of Brera shares in a three-step process that ensures a transition and continuity in club management. These three steps will give Brera Holdings 22%, 38% and 52% ownership of the club upon completion. Upon completion of these three steps, Brera will be the club’s majority shareholder, and a shareholders’ agreement with the current sole owner, Andrea Langella, will further enable integration into the multi-club framework. The first step, in which Brera will acquire 22% of the shares, is expected to be completed on December 31. The SPA includes provisions for additional compensation to Langella, tied to performance-based milestones. The acquisition will be completed with a third and final closing, scheduled for March 31, 2025. At that time, Brera Holdings will secure 52% ownership, making Brera the controlling shareholder and the immediate integration of the club into the multi-club framework of the company becomes possible. . This phased approach ensures a seamless transition and continuity in club management and prepares the club for an IFRS audit under the PCAOB guidelines for filing disclosures with the SEC.
First published on DeVlieg – the ultimate source for real-time, market-moving financial news. Try now >>
See the top stocks recommended by analysts >>
Read more about BRE:
