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Adveo Italy announces liquidation proceedings

Adveo has requested the the National Securities Market Commission to start liquidation proceedings for its subsidiary in Italy.

Adveo Italy was not part of the agreement reached with Sandton Capital for the sale of assets in France and Benelux. Funds managed by Sandton Capital made a binding offer to acquire the subsidiaries of Adveo in France, Belgium and the Netherlands for an amount of 5.5 million euros. The offer did not include the purchase of the shares of the Spanish, Portuguese, Italian and German subsidiaries of the group.