Mariella Burani announces sale of its 50% equity interest in Rosato

23 May '09

1 min read

Mariella Burani Fashion Group Spa announces the sale of its 50% equity interest in Rosato Srl, one of the four companies comprising the Group's Fashion Jewellery division. The sale is consistent with the Group's planned divestiture of the Fashion Jewellery Division, as announced on May 18, 2009, in conjunction with the release of MBFG's 2009 quarterly results.

MBFG sold its 50% equity share in Rosato Srl to Borghesi Srl, holding of the Rosato family who will own 100% of Rosato Srl, for an Enterprise Value of € 7.7 million. Rosato realized negative Ebitda of € 4.7 million during 2008.

MBFG's current strategy is to focus on its core 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

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