Poste Vita S.p.A. (the “Bidder”), the life insurance company of Poste Italiane Group, has launched a voluntary public offer aimed at acquiring (i) all the ordinary shares of Net Insurance S.p.A. (“Net Insurance”, the “Issuer” or the “Company”), less the 400,000 shares held by Mr. Andrea Battista, Chief Executive Officer of the Issuer, with the subsequent delisting from the Euronext Milan, STAR Segment, organised and managed by Borsa Italiana S.p.A. (“Borsa Italiana”), of the Shares, and (ii) all of the warrants denominated “Warrant Net Insurance S.p.A.” (the “Warrants”) issued by the Company and outstanding, with the consequent delisting of the Warrants from Euronext Milan, STAR Segment, organised and managed by Borsa Italiana. In particular: 
- for each Share tendered, the Offeror will pay a consideration of Euro 9.50;
- for each Warrant tendered, the Offeror will pay a consideration of Euro 4.81.

Net Insurance, with over €149m of gross written premiums (GWP) underwritten in 2021, 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 acts as Net Insurance's financial advisor in the transaction and was appointed by Net Insurance's Board of Directors to draft a Fairness Opinion, from an economic and financial standpoint, on the consideration proposed by Poste Vita.
 

financial advisor in the transaction and was appointed by Net Insurance's Board of Directors to draft a Fairness Opinion, from an economic and financial standpoint, on the consideration proposed by Poste Vita.

€188m