Engineering completes the sale of Alfahealth to Accenture and continues its business refocusing

Further to its communication of June 17, Engineering Group announces the completion of the sale of the entire share capital of Alfahealth S.p.A., a company specializing in the digital transformation of the Italian healthcare sector, to Accenture. The closing follows the satisfaction of the conditions set out in the agreement and the receipt of the required approvals from the competent authorities, including those relating to Antitrust and Golden Power.

The net proceeds from the sale, after transaction-related costs and other minor adjustments to the total transaction value, are settled entirely in cash and will contribute to strengthening Engineering’s capital structure, providing the Group with additional flexibility to continue its strategic transformation journey. In line with previous announcements, the proceeds from the transaction are expected to be used primarily to reduce the Group’s overall indebtedness. The specific uses of the proceeds from the sale and the related timing are currently being determined and will be communicated to the market, where relevant, in accordance with applicable regulations.

The transaction is part of Engineering’s strategy to consolidate its positioning in the most attractive technology and industrial segments, focusing resources and investments on the areas considered to offer the highest growth potential, including digital solutions, proprietary software platforms, and Artificial Intelligence (AI).

Following the positive financial results recorded in the first half of the year, Engineering continues to strengthen the central role of Generative AI (GenAI) within its business offering. This includes IS-IA (Italy’s Sovereign Intelligence Architecture), the modular architecture built on the proprietary Large Language Model EngGPT 2, designed to provide public administrations and enterprises with sovereign AI solutions that are governable, efficient, open and capable of integrating with other general-purpose models.

Engineering was advised on the transaction by Rothschild & Co and Intesa Sanpaolo – Divisione IMI Corporate & Investment Banking as financial advisors, Legance – Avvocati Associati as legal advisor, and EY-Parthenon Italia as economic advisor.