Partnership Between FSI and Kedrion to Continue the Growth and Development Plan of the Company

Sestant Internazionale S.p.A., Sestant S.p.A. and FSI Investimenti, shareholders of Kedrion S.p.A., have today signed an agreement with FSI, under the terms of which the latter will acquire a minority stake from Sestant Internazionale S.p.A. and subscribe a capital increase to become a shareholder of Kedrion with 19.59%.

The agreement involves the acquisition by FSI of shares from Sestant Internazionale S.p.A. at the value of Euro 100 million together with the subscription of a capital increase of Euro 50 million, and FSI Investimenti (77% controlled by CDP Equity), Kedrion's shareholder since 2012, will maintain its 25.06% stake by means of an additional pro-quota capital increase of Euro 16.7 million.

As a result of the capital increases of Euro 66.7 million, Sestant Internazionale S.p.A. and Sestant S.p.A. will continue to jointly hold a stake of over 54% of Kedrion's share capital.

The entry of the new shareholder and the capital increase contributions from FSI and FSI Investimenti will allow Kedrion to pursue its development strategy on a national and international level, which from 2012 to 2018 has been distinguished by an average annual growth rate in revenues of over 10%. In 2018, Kedrion recorded a turnover of Euro 687.9 million, with 41.0% of total revenues generated in the United States, 10.9% in Europe (of which 25.3% in Italy) and 22.8% in rest of the world.

The closing of the transaction will be subject to the approval from the competent Antitrust Authorities.

The company has been assisted by Lazard as financial advisor and Carnelutti Law Firm as legal advisor.

FSI has been assisted by Rothschild as financial advisor and Studio Gattai, Minoli, Agostinelli & Partners as legal advisor.

Kedrion is a biopharmaceutical company that specializes in the development, production and distribution of plasma-derived therapeutic products. The company is the fifth player worldwide in an industry that has been characterized by a constant growth in recent years. Kedrion has its headquarters in Castelvecchio Pascoli (Italy), operates through its 4 manufacturing sites and 26 plasma collection centers, and has over 2,500 employees, of which over 1,000 are based in Italy.

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FSI Investimenti is 77% controlled by CDP Equity, the Cassa Depositi e Prestiti Group's holding company that invests venture capital in companies either of major national interest, or with sound finances and business prospects suitable for generating wealth for investors.

FSI manages the investment fund FSI I, including major Italian and international institutional investors, sovereign wealth funds of Middle East, Far East and Central Asia, asset managers, European insurance companies and banks, bank foundations and family offices of large industrial groups. FSI investment formula is based on a patient approach and moderate recourse to leverage. FSI targets Italian companies, with the objective of creating value through organic growth and acquisitions, sector consolidation and succession management. FSI pursues both minority investments with active governance rights and majority investments. The investment in Kedrion is the fifth transaction finalized by FSI.

Kedrion is a leading biopharmaceutical company that specializes in the development, production and distribution of plasma-derived therapeutic products for use in treating serious diseases, disorders and conditions such as Hemophilia and Primary Immune Deficiencies.

The Company operates through a fully integrated business model from the collection of plasma in its own centers in the United States and Hungary to fractionation and production in its manufacturing facilities located in Italy, Hungary and the United States.

Headquartered in Castelvecchio Pascoli (Italy), Kedrion has over 2,500 employees and a commercial presence in approximately 100 countries worldwide.

Kedrion places a high value on the welfare of those who benefit from its products, as well as on the people and the communities it serves.

For further information, please contact [email protected]