Il Sole 24 ORE S.p.A. (the Company), Italian leading editorial group for economic, financial, professional and cultural information, agreed the disposal to Palamon Capital Partners (PCP) of a 49% stake of Business School24 S.p.A. (BS24 or the Target), a newly founded company where the Education & Services business has been contributed in kind. The price of the sale – based on a consideration of the BS24 Enterprise Value of 80 EURm – has been set to 39.2 EURm, amount that will be paid as follow: 35.3 EURm at the closing; the remaining 3.9 EURm will be paid within 2023. The Buyer has been selected among several bidders through a competitive bid process.The SPA includes the right, exercisable in May 2018, for PCP to buy an incremental 2% share of the Target for a consideration of 1.6 EURm. Moreover, the agreement includes a put option for Il Sole 24 ORE S.p.A. and a call option for PCP (Put&Call), to respectively sell and buy an incremental 29% share of the Target. Notwithstanding the exercise of the Put&Call, the Company will retain a strategic shareholding in the Target not lower than 20%.