Sanlorenzo completes the first closing of Nautor Swan Acquisition

Sanlorenzo S.p.A. ("Sanlorenzo") has today completed Nautor Swan’s First Closing, as defined and as part of the transaction detailed in the press release disclosed on 1 August 2024, outlining also its economic terms.

At the First Closing executed today, Sanlorenzo has thus paid the cash portion of the price equal to €32,354,734.71, as well as transferred €16,177,367.36 in escrow, to be released simultaneously with the Capital Increase reserved to Sawa.

Sanlorenzo’s share price for the payment in shares, equal to the arithmetic average of the stock exchange closing prices in the previous 30 calendar days, has been calculated at €38.4727, which would imply the issuance of 420,489 shares in favour of Sawa in view of the First Closing amount equal to €16,177,367.36 to be paid in shares.

The companies of the acquisition perimeter ("Nautor Swan Group") generated in FY2023, on an aggregated basis, Net revenues from the sale of new yachts amounting to approx. 10% of Sanlorenzo Group’s net revenues new yachts in FY2023.

Nautor Swan Group’s valuation takes into account EBITDA prospects as resulting from the analysis and elaboration of acquired financial information, as well as potential synergies.