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Italy’s Economic Diplomacy, 1 October: latest news from the world

Luxembourg: TecnoInvestimenti seals deal to buy 50% of LuxTrust

The CEO of the TecnoInvestimenti Group, Pier Andrea Chevallard, closed a deal with Luxembourg’s Minister of Economy, Etienne Schneider, for the acquisition of 50% of LuxTrust, a digital certification company that embraces almost all of Luxembourg’s digital ID certification management market by providing “strong authentication”, qualified electronic signatures, seals and “timestamping” solutions.      

Once it has passed the vetting process of the CSSF (Commission de Surveillance du Secteur Financier), the acquisition operation will be implemented through InfoCert (a subsidiary of TecnoInvestimenti), at present the leading European Certification Authority, with a 12-million-euro increase in LuxTrust’s capital.

The Italian group will thus become a 50-50% partner of the Luxembourg-based company, whose founding shareholders are Luxembourg’s Government and the Chamber of Commerce, as well as the Country’s major retail banks and Post Luxembourg.

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