Innovatec S.p.A. (BIT:INC) signed a preliminary contract to acquire 51% stake in Gruppo Green Power S.p.A. (BIT:GGP) from Christian Barzazi and David Barzazi for €7.7 million on June 26, 2015. Christian Barzazi and David Barzazi will sell 25.5% of stake each in Gruppo Green Power. The deal is expected to close on July 31, 2015. As of July 27, 2015, deal is expected to close within September 30, 2015. Raffaele Caldarone, Pietro Maria Tantalo, Lukas Plattner and Mario Giambò of Nctm and Manfredi Vianini Tolomei and Giovanni Filippo Pezzulo of Chiomenti acted as legal advisors for Innovatec.

Innovatec S.p.A. (BIT:INC) completed the acquisition of 51% stake in Gruppo Green Power S.p.A. (BIT:GGP) from Christian Barzazi and David Barzazi on September 16, 2015. The consideration of the transaction was paid, for €0.2 million in June 26, 2015, and for €4.8 million on September 16, 2015, of which €4 million through the acquisition financing provided by Banca Popolare di Milano and the remaining – corresponding to €0.8 million – through shareholder's loan by Innovatec . The remaining €2.65 million will be paid for €1.325 million on December 31, 2015, for €1.325 million on December 31, 2016.