ELES’s Acquisition of CBL Electronics

ELES Semiconductor Equipment S.p.A. has agreed to acquire a 62.66% stake in Cbl Electronics Srl from Massimiliano Bellucci and Andrea Cannavicci.

Arrigoni Avvocati Associati advised both selling partners on the transaction.

The sale was made for €1.3 million, with total consideration of €940,000. Of this, €540,000 has been agreed to be paid in cash while €400,000 will be paid in either cash or ELES shares at the company’s discretion. An earn-out of €400,000 will be paid to the selling shareholders if certain conditions are met. The transaction will be financed through the use of ELES’s own resources.

Arrigoni Associati’s M&A team advising the sellers consisted of founder Bruno Arrigoni and associate Carolina Pasotti.

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