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)

By Reuters

Published on 28/12/2018 - 08:34•Updated 24/04/2024 - 01:51

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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)

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