Mariella Burani sells 51% stake jewellery company Calgaro Srl

06 Jul '09

1 min read

Mariella Burani Fashion Group Spa announces the sale of its 51% equity interest in Calgaro Srl, a company in the Group's Fashion Jewellery division. The sale is consistent with the Group's planned divestiture of the Jewellery division, that started with the sale of Rosato Srl on May 22, 2009.

MBFG sold its 51% equity share in Calgaro Srl to FinHolding Srl, owned by Giuseppe Calgaro and Monica Fin who now own 100% of Calgaro Srl, for an Enterprise Value of € 4.1 million.

MBFG's current strategy is to focus on its Apparel and Leather Goods businesses, currently representing over 90% of Group revenues, while paying particular attention to increasing operating efficiencies and to continued rationalization within the Group; including the opportune divestment of other non-core, duplicate, and/or non profitable businesses.

MBFG expects to continue to generate value for its shareholders, both operationally and strategically, by investing in the quality and reach of its brands, strategically expanding its license business, further extending the retail network, and developing new partnerships in emerging markets.

Mariella Burani Fashion Group Spa

More Mariella Burani Fashion Group News... More Fashion News - Italy...