Home / Knowledge / News / Fashion / Promotors to tender offer for capital stock of Mariella Burani Fashion
Promotors to tender offer for capital stock of Mariella Burani Fashion
01
Jul '08
In response to an article published in “Il sole 24 Ore”, on Saturday, June 28, 2008, the Burani family confirms its intent to launch a voluntary public tender offer for either a part or the entire capital stock of Mariella Burani Fashion Group SpA.

A special purpose vehicle, controlled by the Burani family with the participation of strategic industrial partners, has been established to formulate an offer for a part or all of the outstanding shares of Mariella Burani Fashion Group SpA, at an estimated price ranging from € 17 to € 18 per share, leading to the de-listing of the company; the project is in advanced stages of development.

The release of the 2007 audited consolidated financial statements of its parent company, Burani Designer Holding N.V, has led MBFG to review the accounting treatment on the sale of its multi-brand retail division in 2007.

The review has led the Board of Directors of Mariella Burani Fashion Group SpA to propose, for shareholder approval, a revision to its 2007 Consolidated Financial Statements.

The revision entails restating MBFG's 2007 consolidated financial statements to reflect € 25.5 million of reduced Revenues, Ebitda, and Ebit, as well as a deferred tax charge of € 8.7 million.

The revision will not impact MBFG's 2007 Reclassified Consolidated Revenues, Ebitda, and Ebit, and Pretax income, which are shown net of extraordinary items, including the sale of its multi-brand retail division.

Also, the revision will not impact MBFG's 2007 Consolidated Net Financial Position or Shareholders' Equity or the financial statements of its subsidiary, Antichi Pellettieri SpA.

The individual financial statements of Mariella Burani Fashion Group SpA remain unchanged with reported Net Income of € 53.7 million.

Shareholders' equity of MBFG reflects an increase of € 24 million attributable to the revaluation of goodwill stemming from the acquisition of additional shares of the group's subsidiary, Antichi Pellettieri SpA in 2006.

The revision has not impacted the results of MBFG for the first quarter of 2008 and that Company management is confident in its ability to meet double digit growth expectations for both revenues and ebitda in 2008.

Mariella Burani Fashion Group SpA


Must ReadView All

Indian textile & apparel exports fall 13% in Jan 2018

Textiles | On 17th Feb 2018

Indian textile & apparel exports fall 13% in Jan 2018

A decline of 13 per cent year-on-year has been observed in the...

Brazilian cotton prices move up in first fortnight

Textiles | On 17th Feb 2018

Brazilian cotton prices move up in first fortnight

Cotton prices rose in Brazil in the first fortnight of February, as...

Courtesy: OrganoClick

Textiles | On 17th Feb 2018

OrganoClick introduces OrganoTex for water repellency

OrganoClick has introduced OrganoTex, a textile impregnation product...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.3%
No
12.9%
Skip
16.8%

Total Votes: 101

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.4%
No
29.7%
Skip
6.9%

Total Votes: 101

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.1%
No
8.9%
Skip
3.0%

Total Votes: 101

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.2%
No
7.9%
Skip
8.9%

Total Votes: 101


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search