Majority Acquisition of Sipiem

RNS Number : 9075P

Brainspark PLC

31 October 2012

 



                                                                                                                                          31 October 2012

Brainspark Plc

("Brainspark" or "the Company")

MAJORITY OWNERSHIP OF SIPIEM SPA

Following the announcement of 2 August 2012, Brainspark, the AIM listed international investment company (AIM: BSP), is pleased to announce that on 30 October it subscribed for an additional 11 per cent in Sipiem SpA through an increase in capital. The consideration is EUR 800,000, which will take Brainspark's holding to 51 per cent. The transfer of the Sipiem shares to Brainspark will complete on or before 30 November.

Sipiem is a construction and leisure company based in Biella Italy, which specialises in the creation and building of theme parks, including Ondaland, Italy's largest water park. Alfredo Villa has been appointed CEO of Sipiem from 30 October.

Sipiem is currently building Italy's first Family Entertainment Centre (FEC) and is seeking further acquisitions in the leisure and theme park sectors.

Alfredo Villa, CEO of Brainspark, commented, "With our recent placing of £2.8m Brainspark is beginning to complete its outstanding strategic acquisitions to gain control of some of the best Italian companies operating theme parks, hotels and restaurant chains. Once we hold the controlling share in these companies, including Ora Hotel Group, we will develop the synergies between them. I am very happy to have been appointed CEO of Sipiem; to help them to implement this consolidation and synergistic strategy."

Ennio Coda, President of Sipiem, said, "I am glad to have closed the deal with Brainspark. This increase in capital will be used to further develop Sipiem. Also, we are working closely with Brainspark and the board of Mediapolis to offer our planning and development expertise to help maximise the value of the land, designated the 'Mediapolis Theme Park', in northern Italy."

Ennio Coda has 30 years' experience in the construction and leisure sectors, having been the Chairman of Beni Stabili, a board member of Mirabilandia, CEO of Valtur, and Chairman of Sotim spa.

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For further information please contact:

Brainspark Plc                                                                                                    [phone]

Alfredo Villa, CEO

Westhouse Securities                                                                               [phone]

Antonio Bossi

Jonathan Haines

Leander PR                                                                                               [phone]

Christian Taylor-Wilkinson

About Brainspark Plc

Brainspark plc (AIM: BSP) is an AIM listed investment company pursuing a dynamic strategy to create a comprehensive portfolio of companies primarily encompassing the leisure and real estate sectors mainly in Italy but also other European countries. The Company may be either a passive or active investor and Brainspark's investment rationale ranges from acquiring minority positions with strategic influence through to larger controlling positions. For further information, please visit, www.brainsparkplc.com

 

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