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2.1.3. The French agency will be the first one to be set up and will be created in the immediate weeks following the setup of the holding company. Target is to have (as per Appendix 1) a French company that can be set up in June/July 2014 and can operate starting from September with an approved lice
two clear limits to his powers are clearly stipulated: 1.5.1. The Operating Investor cannot leverage the companies with extra debt not coming from the Financial Investor (as explained in point 1.7.2.2.) 1.5.2. The Operating Investor has a clear ceiling of yearly spend that is approved by the Financial Investor in wr
2.1.3. The French agency will be the first one to be set up and will be created in the immediate weeks following the setup of the holding company. Target is to have (as per Appendix 1) a French company that can be set up in June/July 2014 and can operate starting from September with an approved lice
two clear limits to his powers are clearly stipulated: 1.5.1. The Operating Investor cannot leverage the companies with extra debt not coming from the Financial Investor (as explained in point 1.7.2.2.) 1.5.2. The Operating Investor has a clear ceiling of yearly spend that is approved by the Financial Investor in wr
2.1.3. The French agency will be the first one to be set up and will be created in the immediate weeks following the setup of the holding company. Target is to have (as per Appendix 1) a French company that can be set up in June/July 2014 and can operate starting from September with an approved lice
two clear limits to his powers are clearly stipulated: 1.5.1. The Operating Investor cannot leverage the companies with extra debt not coming from the Financial Investor (as explained in point 1.7.2.2.) 1.5.2. The Operating Investor has a clear ceiling of yearly spend that is approved by the Financial Investor in wr
Entities connected to both Target and the Financial Investor

Geneva
LOCATION
Milan
LOCATIONAnnexes
ORGANIZATIONGiancarlo Galati
PERSONwan .mtrais
PERSONO. taw n*
PERSONItte Wawa aloe le Sets Sew ems
PERSONta so% ne
PERSONS. O. • K
PERSONThe Operating Investor
ORGANIZATIONma ~Ws Aiwa
ORGANIZATIONSeptets
ORGANIZATIONAmman
LOCATIONSmorrou
PERSON