BREAKING NEWS

Founding family launches takeover to delist Casa Damiani jewellery group

Founding family launches takeover to delist Casa Damiani jewellery group
FILE PHOTO: A Damiani necklace is pictured at the Damiani headquarters in downtown Milan September 10, 2009. REUTERS/Alessandro Garofalo -
Copyright
Alessandro Garofalo(Reuters)
Euronews logo
Text size Aa Aa

MILAN (Reuters) – The founding family of Italian jewellery group Casa Damiani <DMN.MI> said on Friday it would launch a takeover to buy the company and delist it from the Milan bourse.

Leading Jewels, the holding company of the Damianis, will buy Casa Damiani’s shares at 0.855 euros apiece, a 5.04 percent premium to the stock’s closing price on Dec. 27.

The holding company, which already controls Casa Damiani, will spend up to 11.8 million euros (10.7 million pounds) to buy the whole group, the family said in a statement.

The company, which went public in 2007, is active in the jewellery sector through brands such as Damiani, Salvini, Bliss and Calderoni.

(Reporting by Francesca Landini; Editing by Subhranshu Sahu)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.
Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.