By
Reuters API
Reuters API
Published
Sep 13, 2019
Sep 13, 2019
Italy's Elisabetta Franchi to list in Milan in reverse takeover
By
Reuters API
Reuters API
Published
Sep 13, 2019
Sep 13, 2019
Fashion label Elisabetta Franchi is set to list on the Milan stock exchange following a business combination with shell company Spactiv , in a deal that values the Italian clothing brand at 195 million euros (175.24 million pounds).
Spactiv said in a statement it would invest 77.5 million euros to buy a stake in Betty Blue, the company of fashion designer Elisabetta Franchi, and then incorporate it via a reverse takeover.
The resulting entity will be called Elisabetta Franchi and trade on the alternative investment segment of the Milan bourse.
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