Borgosesia Leadership Shakeup Amid Takeover Bid

Borgosesia, an Italian industrial holding company with roots tracing back to 1873 and a current focus on real estate regeneration and non-performing loan management, is undergoing significant leadership and strategic adjustments. These changes coincide with a public takeover offer initiated by Alba srl, signaling a pivotal moment for the Euronext Milan-listed entity.

The company has announced the departure of its Chief Executive Officer, Davide Schiffer. While stepping down from the CEO role, Schiffer will continue to oversee the company's real estate division until the finalization of the 2026 financial statements. Concurrently, Dante Filippello has been appointed as the new CEO. With over fifteen years of experience in finance and real estate, Filippello brings a wealth of expertise, notably from his tenure at Mediobanca, where he served as Managing Director and significantly contributed to the growth of its Real Estate Corporate Finance division.

Further restructuring includes Mauro Girardi relinquishing his operational responsibilities. Girardi will maintain his position as Vice President, shifting his focus to senior oversight of alternative investment initiatives. This move aligns with Borgosesia's strategic pivot towards a more direct group-level management of its investment activities and the expansion of its investment platform, particularly in special situations and opportunities, with an increasing emphasis on financial transactions.

In line with its evolving strategy, Borgosesia has also mutually terminated its advisory agreement with My Credit, a firm specializing in the investment and management of secured non-performing and unlikely-to-pay loans. This decision is part of a broader initiative to refine the company's operational framework and enhance its focus on core competencies.

The most significant development for Borgosesia is the ongoing takeover bid launched by Alba srl on February 17, 2026. This offer aims for the delisting of the holding company. Alba srl represents a consortium of institutional investors and long-standing partners, including ISA (Istituto Atesino di Sviluppo spa), the Tommasi family (Pierangelo and Dario), the Tassara family (via Carlo Tassara International Sa – CTI), and Sofia Holding srl, alongside Valentina Francesca Maria Brioschi, representing Brioschi Sviluppo Immobiliare. The offer proposes a consideration of €0.71 per ordinary share, valuing the company at approximately €33.9 million.

This period of transition at Borgosesia occurs within a dynamic Italian market for distressed assets and real estate turnaround projects. The company's strategic realignment, coupled with the impending acquisition, suggests a concerted effort to navigate market complexities and capitalize on opportunities in specialized investment areas. The influx of experienced leadership and the backing of a strong investor consortium indicate a forward-looking approach to value creation.