MILANO (AIMnews.it) - Mediobanca has confirmed its Neutral recommendation on Equita Group and the target price of 3.35 euro per share, in light of the announcement of the business combination of spac Eps Equita Pep. Equita holds 52.5% of the spac through 210.000 special shares that can be converted into ordinary shares (with a ratio of 6x) bringing the total package to 15 million shares. Equita will convert 17,500 special shares into 105.000 ordinary shares with a 12 month lock up from the business combination. 'Assuming that the prices remain unchanged throughout the year', they explain from Mediobanca, 'we estimate that the transaction could generate interest for 0.88 million, which are already reflected in the estimates. While believing that private equity initiatives will drive the growth of alternative asset management, analysts reiterate the Neutral judgment for the reduced upside on both estimates and market prices'.