The new capital will fund the growth of the listed company, which is a market leader in its sector and one of Italy’s top public companies.
The transaction is in line with the principles of the CDP Group's 2022-2024 Strategic Plan and involves the subscription of a 70 million euro tranche of a 140 million euro share capital increase.
Rome, 22 June 2022 - The boards of directors of Cassa Depositi e Prestiti (CDP) and its subsidiary CDP Equity (CDPE) have approved the signing of an investment agreement that includes, subject to the expiration of the conditions precedent stipulated therein, an investment by CDPE in the share capital of GPI, a group listed on the Euronext Milan (EXM) market managed by Borsa Italiana. GPI is a major listed player in the Italian digital health sector, where it plays leading roles particularly in the areas of technology products and services (software and ICT), outsourced management and administrative services (CUP services, contact centres, direct front-end and back-office management), and telemedicine projects (tele-examination, tele-consultation, and tele-monitoring).
The transaction, which is part of an increase in GPI's share capital totalling 140 million euro, involves the subscription by CDPE of one half of said increase, amounting to 70 million euro. Once the transaction is completed, CDPE will hold a minimum equity interest of 17% in GPI.
The investment is in line with the CDP Group's 2022-2024 Strategic Plan, both in terms of lending support to key sectors for the country's development and in terms of the rotation of its equity investment portfolio.
The current controlling shareholder FM S.r.l. - a holding company reporting to the current Chairman and Chief Executive Officer of GPI, Fausto Manzana - and other institutional investors will also be involved in the transaction, underwriting the remaining tranches of the capital increase by means of a crowding-in effect, meaning their ability to attract resources to the capital market.
The transaction will be finalised within the timeframe required to obtain the necessary regulatory approvals and is intended to support GPI's investment strategy of accelerating the digitalisation of Italian healthcare, thus improving people's access to care, which is increasingly urgent given the demographic trends affecting the country.
CDPE's investment is also consistent with the objectives set out in the Health Mission of the National Recovery and Resilience Plan (NRRP), which allocates eight billion euro to digital healthcare.