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

Pic: Marek Uliasz | Dreamstime.com

Textiles | On 29th Nov 2021

New variant heightens global economic uncertainty

Just as everyone thought that things are slowly moving back to...

Pic: Pawel Pszczola | Dreamstime.com

Textiles | On 29th Nov 2021

Chinese factories to get uninterrupted power supply in winter: NDRC

Factories in China are likely to get an uninterrupted power supply...

Pic: Andy Nowack | Dreamstime.com

Textiles | On 29th Nov 2021

US textile & apparel exports up 20.15% in Jan-Sept 2021

The exports of textile and apparel from United States increased by...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Textile Industry, Head honchos

Textile Industry
Head honchos

Quality & affordability to affect market acceptability of new fibres

Textile Industry, Head honchos

Textile Industry
Head honchos

Led by MMF, Indian apparel exports likely to double in next 3 years

Barry Goodwin,

Barry Goodwin

UK based Amba Projex Ltd designs, manufactures, and installs industrial...

Benedetta Terraneo,

Benedetta Terraneo

Miko Srl, a subsidiary of US-based Sage Automotive Interiors and a member...

Susanna Koelblin,

Susanna Koelblin

Founded in 1920, Eastman is a global specialty materials company that...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Sachin Pendharkar, Dieffenbacher India Pvt Ltd

Sachin Pendharkar
Dieffenbacher India Pvt Ltd

Germany-based Dieffenbacher Group is a producer of high-quality composites ...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha & Jigar blends India's unique handcrafts...

Sunita Shanker, Label Sunita Shanker

Sunita Shanker
Label Sunita Shanker

Inspired by the rich traditional crafts of India, Sunita Shanker’s work is ...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

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


November 2021

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


Advanced Search