MILAN - Italian fintech company TAS Group said on Thursday a vehicle controlled by European private equity firm Gilde would launch a takeover bid for its shares at 2.2 euros each after taking control of its top shareholder.
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Gilde Buy Out Partners aims to delist TAS Group from the Milan Stock Exchange. It agreed to acquire OWL, that controls 73.2% of TAS Group, valuing the stake 134.5 million euros ($156.61 million).
Shares in TAS, which develops software for payments and banking, jumped 4.85% to 2.16 euros at 0810 GMT on the Milan Stock Exchange.
TAS is Gilde's first investment in Italy, "a key geography", Giuseppe Franze, partner of Gilde and head of Italy, said in a statement. The fund will support TAS in developing the business also through acquisitions, he added.
The closing of the deal is subject to a number of conditions including clearance by regulators pursuant to golden power regulations in Italy and France.
($1 = 0.8588 euros)
