Mittel S.p.A (BIT:MIT) agreed to acquire Borghesi Advisory srl from Arnaldo Borghesi and his wife for €8.1 million on January 10, 2013. Mittel will pay €4.75 million in cash and transfer 2.5 million shares. Arnaldo Borghesi is expected to be designated Chairman and Chief Executive Officer of Borghesi Advisory, with the commitment to maintain for at least 5 years from the closing of the transaction. The Board of Directors of Mittel have approved the deal. The closing is expected by the month of January 2013.

Mittel S.p.A (BIT:MIT) completed the acquisition of Borghesi Advisory srl from Arnaldo Borghesi and his wife on January 11, 2013.