Global Apparel Market – An Overview | Watch NOW! | Ad
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

China reportedly cancels trade talks with US, Liu He visit

Apparel/Garments | On 22nd Sep 2018

China reportedly cancels trade talks with US, Liu He visit

Washington is reportedly positive about arriving at a solution to its ...

AmCham Cambodia cautions US against possible sanctions

Apparel/Garments | On 22nd Sep 2018

AmCham Cambodia cautions US against possible sanctions

In a letter to US lawmakers, the American Chamber of Commerce...

Courtesy: ycloset

Apparel/Garments | On 22nd Sep 2018

Alibaba invests in clothes sharing platform Ycloset

Chinese garment sharing platform YCloset has completed an undisclosed ...

Interviews View All

Top executives, Textile industry, India

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Amardeep Singh, Orient Craft

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Top executives, Textile industry

Top executives
Textile industry

GST has levelled the playing field to an extent

Sham Shah,

Sham Shah

Shamal and Shamal Pvt Ltd is into manufacturing and sales of textile...

Yash Jain & Sanjeev Jain,

Yash Jain & Sanjeev Jain

Divyam Export, launched about 30 years ago, exports to 15 countries,...

Kamal Kulshreshth,

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Johan Berlin, Investkonsult Sweden AB

Johan Berlin
Investkonsult Sweden AB

Investkonsult Sweden AB are consultants in the nonwoven and absorbent...

Silke Brand-Kirsch, Schlegel und Partner GmbH

Silke Brand-Kirsch
Schlegel und Partner GmbH

<div>Schlegel und Partner is the market research and consultancy company...

Mark Paterson, Technical Absorbents Ltd

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

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

Leave your Comments


September 2018

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

news category


Related Categories:

Advanced Search