Art-Rite and Banca Sistema: a partnership that looks to the future
 

On October 27th, 2022, Gruppo Banca Sistema, through its subsidiary Kruso Kapital S.p.A, has finalized the acquisition of 100% of the capital of the auction house Art-Rite S.r.l.

The acquisition is part of the Group’s growth and diversification strategy and aims to broaden the targeted prospective customer base.

The deal will take legal effect on 2 November 2022 and will have no significant capital impact.
Gianluca Garbi, Chief Executive Officer of Banca Sistema and Chairman of Kruso Kapital remarked: ”We are satisfied with this additional step that ushers us into the world of auctions and will add new skills and a team specialized in this sector to the Group. This deal will also allow us to take part in digital investments and offer services that are ever more geared for the needs of a sophisticated clientele.”
Attilio Meoli, Managing Director of Art-Rite added: “For our auction house, putting our signature to this deal marks an important evolution towards a unique project in the Italian landscape.”