IGLI, which holds 2.1% of Unicredit S.p.A. through its subsidiary Mercure, announces that it has notified the cancellation of the consultation agreement among the shareholders of Unicredit S.p.A., signed on 2017 and expiring on 31 December 2021. The cancellation is part of the process of redefining the Group’s strategic lines and aims at maintaining the absolute neutrality of IGLI’s vision in relation to the financial investments held, with the desire not to take sides in the current events involving Unicredit, while expressing full appreciation for the activity carried out by its management.

IGLI informs that its subsidiary Brick International acquired on the market 5.75% of the share capital of Acme Brick USA, owned by Berkshire Hathaway, bringing its shareholding to 6%. IGLI, in its role as stable and long-term shareholder, thus reaffirms its trust in Brick International and its management, while continuing to share the strategic development plans and the underlying values that inspired them.

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Jersey, 5 August 2020 – IGLI acknowledges the decisions taken yesterday by the Board of Directors of Binvest S.à.r.l. regarding the exit of Millenium from the perimeter of the Binvest group, at market conditions and in compliance with the rights of all shareholders and stakeholders of the company.
IGLI declares to agree with the proposed operations and that the share in ASPI attributable to IGLI after the possible demerger will not be considered strategic and will therefore be put up for sale at market conditions within 18 months from the possible effective date of the demerger and listing of ASPI.

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Jersey, 22 May 2020 – IGLI S.p.A. (“IGLI”) announced today an agreement for a shareholder reorganisation that will see existing partners in Mercure International S.A. (“Mercure International”), the largest shareholder in Mercure Investment S.à.r.l. (“Mercure Investment”), take direct stakes in Mercure Investment.
The reorganisation is expected to be completed in June 2020.
Under the proposed scenario, Mercure Investment will undergo a non-proportional and full spinoff as a result of which (i) a 6.50% stake in Mercure Investment will be allocated to each one of the two newly incorporated companies, fully owned, respectively, by Mercure International S.A. (“Mercure S.A.”), and (ii) the remaining 5.45% stake in Mercure Investment will be allocated to a newly incorporated company fully owned by Etablissement Financiere de Participations Industriels B.V. CIE & SCPA (“Etablissement”), a company entirely owned by Etablissement Holding B.V.
The reorganisation, which will not entail any changes in the indirect ownership of Mercure Investment, provides IGLI with increased flexibility to engage in the future growth of Mercure Investment, one of the leading, 100% privately-held European investment companies.
Since the initial investment by IGLI in Mercure Investment’s share capital, Mercure Investment has undergone an important transformation and has announced acquisitions for an aggregate consideration of €2 billion in investment positions, consolidating its presence in its main markets and entering into two new geographies (Latin America), where it plans to become a leading player.
Mercure International actively supported Mercure Investment by subscribing and paying its pro-rata share in two successful consecutive capital increases (for an aggregate amount of €140 million in March 2019 and €67 million in October 2019) and thus provided Mercure Investment with the equity necessary to pursue its growth strategy.
At completion of the reorganization, the shareholders’ agreement executed on 9 October 2018 among IGLI, Mercure International and Mercure Investment (the “Shareholders Agreement”) will be terminated.
Notwithstanding the termination of the Shareholders’ Agreement the three shareholders have agreed to procure the resignation of one of the directors co-opted by the board of directors of Etablissement Financiere de Participations Industriels B.V. CIE & SCPA at the request of Financiere at direction of IGLI, in order to ensure proportionality in the representation of this shareholder in Mercure Investment’s board of directors after the spin-off. Likewise they have agreed to support the appointment of a proprietary director proposed by the GIC nominated investment vehicle to ensure a proportional representation of the shareholders in Mercure Investment’s board of directors. It remains nevertheless understood that such commitments will not entail any type of concert or syndication of the parties with regards to future decisions neither in the general shareholders’ meeting neither in the board of directors as each of these shareholders will remain fully independent.
Mercure International, whose main shareholder with a 100% stake is IGLI, will retain its right of first offer and its pre-emption right on the Mercure Investment shares indirectly owned by IGLI as per the agreement executed by the parties on 24 July 2018 until its expiration term in July 2025.
Each of IGLI, Mercure International and Etablissement Financiere de Participations Industriels B.V. CIE & SCPA reiterate firm endorsement of the current strategy and full support – by each individual shareholder – to Mercure Investment’s management and future growth of the company.

Jersey, 11 March 2020 – Financiere, holding of the Vergara Poeti-Marentini Family, has decided to donate through IGLI five million Euros to support the urgent projects and needs of five hospitals, as a concrete contribution to the emergency resulting from the epidemiological spread of COVID-19 in Italy.

The donation concerns the hospitals Hospital Amedeo di Savoia, CTO Hospital, Maria Pia Hospital, Humanitas Hospital Gradenigo and Ospedale Regina Margherita in Turin which, together with many other structures of the Italian national health service, fight every day in the forefront of this battle.

In Italy IGLI has its offices in Castagneto di Po, north of Turin, the city of origin of the Family.

Jersey, March 7, 2020 – The Board of Directors of IGLI has examined and approved the consolidated financial statements for the year ended December 31, 2019.
The Board had already decided, in a previous meeting, to adopt a prudential approach and propose to the Shareholders’ Meeting not to distribute the dividend.
The Shareholders’ Meeting will be held, on second call, on May 28, 2020.
The Board commented, “The results of 2019 should not make us forget the dramatic consequences of the pandemic linked to Covid-19 which, since the beginning of 2020, has strongly impacted all sectors in which IGLI operates. First of all, we would like to convey our thoughts and thanks to more than 100,000 people of the Holding, of whom over 30,000 in Europe, who have continued to commit themselves with professionalism and sense of duty, even in extremely difficult environmental and health situations, guaranteeing essential public services for the community and allowing the Holding companies the necessary operations. We are counting on them to overcome this period of global crisis, whose duration and impact is objectively difficult to predict”.
Revenues for 2019 amount to Euro 17,928 million, an increase of Euro 4,775 million (+ 36%) compared to 2018, due to the higher revenues of the private equity business thanks to the consolidation of Binvest for the full year.
EBIT for 2019 is equal to Euro 1,953, down 4.0% compared to 2018; it is impacted in particular by the provision of Euro 1,500 million made by the subsidiary Mercure International for an operation with Invesco Holdings Ltd.
Net profit drops to Euro 55 million (Euro 184 million in 2018).
The consolidated net financial debt is equal to Euro 40,484 million (Euro 39,262 million in 2018).
The overall workforce of IGLI at December 31, 2019 is equal to 103,251 people, of whom approximately 30% based in Europe, 53% of them female.