Disposal of the interest in Jaggaer

Milan, July 8, 2019 – Italmobiliare alongside Accel-KKR (a leading technology-focused private equity firm) will sell its interest in Jaggaer, a company operating in the eProcurement and spend management solutions sector, to Cinven the international private equity firm. The stake is held through the vehicle company SciQuest Topco. The transaction has been regulated by the agreements related to the management of Jaggaer previously signed between Italmobiliare and Accel-KKR Italmobiliare sold its stake in BravoSolution to Jaggaer at the end of 2017, investing, as part of the transaction in the US company, thus becoming shareholder with a 9.5% share of Jaggaer capital. The transaction, which is expected to be completed in Q3 2019, subject to customary regulatory and antitrust approvals, values the participation of Italmobiliare about 100 million US dollar before taxes and potential adjustments under review.