The possibilities and advantages of economies of scale for mutual clients are obvious. This is the reason why an official Due Diligence phase will start during the next few months. This phase will confirm the advantages of the intended joint new company.
It is the intention of Equens and Seceti to establish a joint new company within Equens' current holding structure. This means that from that moment onwards, the Equens Group will consist of Equens Nederland, Equens Deutschland and Equens Italia. The intended steps have been approved by both the Supervisory Board and shareholders. The signing of an agreement regarding this new company is expected to be finalised in mid-2008.
Michael Steinbach, Chairman of Equens' Board of Directors: 'The intended cooperation with Seceti is an important next step forward in our strategy to become one of the leading payment processors in Europe. It proves that we are fulfilling our ambitions. I am very proud that Seceti, being one of the most leading payment processors in Italy, has chosen Equens as its strategic partner'.
'Europe is a crucial growth area for Seceti and we are committed to develop our business in strategic cooperation with Equens across the entire range of products and services' stated Giovanni De Censi, Chairman of the Board of ICBPI . He also stressed that the intended agreement between the two companies is in the best interest of all their shareholders and customers.