Leone Film Group S.p.A. (BIT:LFG) signed a binding agreement to acquire Lotus Production Srl from Antonio Belardi for €5 million in cash and stock on July 29, 2014. Leone Film will pay €2.4 million to Lotus Production's founder Antonio Belardi as well as issue 734,694 new LFG shares. LFG will also proceed with a share capital increase reserved to Antonio Belardi for €3.6 million. Lotus had revenues of €11 million, EBITDA of €0.68 million and EBIT of €0.6 million. The transaction is subject to Belardi, who currently holds 96.94% in Lotus, to buy the remaining stake in it, Lotus to sell or at least spin off some non-core real estate properties and Leone's shareholders to approve the capital hike. The transaction is expected to close by December 31, 2014.


Leone Film Group S.p.A. (BIT:LFG) completed the acquisition of Lotus Production Srl from Antonio Belardi for €5.3 million on November 18, 2014. The terms of the transaction include the issuance of 0.73 million new ordinary shares, payment of €2.4 million as consideration and remaining amount of €0.8 millionwill be paid within and not beyond six months from the present date. The transaction was approved in the extraordinary meeting of Leone Film Group S.p.A.