GREEN LIGHT TO THE RENEWAL OF TAS GROUP: ALL RESIDUAL CORPORATE TRANSACTION STEPS NOW SUCCESSFULLY COMPLETED AFTER THE CHANGE OF CONTROL AGREEMENT SIGNED LAST MAY BY THE BANKS, THE FUND AND THE NEW INVESTORS
Decisive days for TAS Group: happy ending after a year of negotiations for the change of Governance
On August 4 Dario Pardi, President, and Valentino Bravi, CEO, supported by a “club deal” of major investors, completed the final purchase of TAS change of control, after receiving the Consob’s formal communication of “OPA exemption” on July 29.
The recapitalization of the company thus becomes effective and the injection of capital opens the way for a new direction to be set, allowing TAS Group to take full advantage of national and international opportunities in the banking and corporate markets. As a multinational FinTech company with Italian headquarters and recognized on a worldwide level, TAS Group is ready to compete thanks to over 30 years of business domain expertise and solid product portfolio: a set of software platforms completely redesigned over the last five years and based on the latest technology.
“Today a long restructuring process finally ends: TAS Group has achieved a radical change in its financial position, a strengthening of the functional expertise and the remaking of the product portfolio through self-founded investments. These activities have enabled us to deliver results and achieve awards at national and international levels. We can say that today TAS Group is among the most promising Italian Software companies in the Fintech world at a global level, officially recognized by major associations and market media,” said Bravi, CEO.
“Thanks to the agreement with the Creditor Banks, the financial support of the top management and the club deal investors, a new era begins for our Group. I am convinced the contribution and expertise of our shareholder and President, Dario Pardi, will give a great boost to our international expansion. Through this, we will demonstrate that “Made in Italy” can be recognized as a distinctive value even in the Fintech sector worldwide. Finally, I take this opportunity to thank our customers and partners who have trusted us over the years; and colleagues, old and new , with whom I shared a path, sometimes challenging, that allowed us to put TAS Group among the successful companies at an international level!".