Itaca Multi Strategy invests €220 million in BF International

Itaca Multi Strategy, a fund managed by Miria Asset Management Limited, has completed an additional investment of €220 million in BF International (Bfi). This transaction follows a capital increase of €700 million approved by the Bfi assembly in June, which was designed to support the international development of the BF Group.

As part of the agreement, Itaca subscribed to 12,571,428 ordinary shares at a price of €17.50 per share. Additionally, the fund converted its existing 1,403,548 Class B shares into ordinary shares. The investment is accompanied by a shareholders' agreement between BF and Itaca that governs aspects such as governance rights, investment protection, and exit strategies.

Federico Vecchioni, Executive Chairman of BF, stated that the investment reinforces the Group's international development project and serves as institutional recognition of its strategic value.