Industrial Stars Of Italy 4 to acquire Sicily by Car from Dragotto for €39m.

Industrial Stars Of Italy 4, an Italy based special purpose acquisition company-SPAC, agreed to acquire Sicily by Car, a car rental service, from Dragotto, for €39m. "I express great satisfaction for the agreement reached and for the confidence that the promoters of Indstars 4 have placed in the business model of Sicily by Car, characterized by financial solidity, profitability and efficiency, strong focus on sustainability and important development prospects. The finalization of the business combination will allow the group access to the capital market by accelerating the strategic development of growth by external lines in the pan-European market, in line with the SbC Europe project. Thanks to the visibility resulting from the listing, we will be able to seize opportunities in the tourism sector, a lever of growth for the Italian economy and Made in Italy," Tommaso Dragotto, founder, Sicily by Car President and CEO.