Fiera Milano and Fiere di Parma together to create a joint agribusiness platform

Fiera Milano and Fiere di Parma sign a non-binding term-sheet for a partnership to create a European, multipolar exhibition platform in the agri-food sector.

As stated in an official note issued on Oct. 13, the transaction would be carried out through the underwriting of a capital increase by Fiere di Parma reserved for Fiera Milano, to be released through the contribution of Fiera Milano's business unit related to the "Tuttofood" event, an event in the agri-food sector organized in Milan at the Rho district.

Upon completion of the transaction, Fiera Milano would initially hold a minority stake in the share capital of Fiere di Parma.

Strategic objective

The parties aim to create a new multipolar exhibition platform consisting of "Cibus Parma" - the iconic event for Made in Italy food and its territories - and "Tuttofood powered by Cibus" in Milan, where it will be able to accommodate an international exhibition audience and thus compete with its European counterparts.

Thanks to the synergies between Fiera Milano, Fiere di Parma and Federalimentare, the two events will be able to specialize their positioning by offering strategic and permanent support to Made in Italy agrifood and, in general, to the Italian system.

The agreements call for Fiera Milano to participate in the governance of Fiere di Parma by supporting the private shareholders-namely Crédit Agricole Italia S.p.A and Unione Parmense degli Industriali -and the public shareholders-namely the City and Province of Parma, Parma Chamber of Commerce and the Emilia-Romagna Region-in enhancing the execution of the business plan of Cibus Parma and Tuttofood.

These agreements also define the provision of services between Fiera Milano and Fiere di Parma in relation to the event "Tuttofood powered by Cibus," also to be held at the Rho exhibition center managed by Fiera Milano.

The note also highlights that, in consideration of the non-binding nature of these agreements, additional information will be disclosed to the market at the time of their certain determination, that is, when the parties have concluded the further negotiations and the necessary conditions have been met.