00:00We opened this file around five years ago, starting thinking about the combination.
00:06But the leverage embedded in the company was too high.
00:08Seam will remain a standalone company, no doubt, and the brand, the iconic brand,
00:17which is very well entrenched into the consumer base in Italy, will be protected.
00:27EPS are created already in 2027, and such a creation will be double-digit from 2028.
00:35The post-Italiane 2026 guidance implied dividend per share is confirmed.
00:40We expect the transaction to close in Q4 this year.
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