Tamburi investment partner exits Furla
Tamburi investment partner exits Furla
Milan-based investment and commercial banks invested in accessory labels in 2016.
Milan-Prompted Tamburi Investment Partners to withdraw from Furla.
The independent investment bank and Bloom, the company that controls the majority of Furla's shares, have reached an agreement to sell shares of its accessories brand. The transaction value is set at 35 million euros.
After this action, TIP President and CEO Giovanni Tamburi and Alessandra Gritti will continue to serve as members of Furla’s board of directors.
In 2016, TIP invested 15 million euros to issue convertible loans to increase capital. This capital increase should be automatically converted to Furla stock in the initial public offering in 2018, but it never happened. At that time, TIP also promised to provide another 15 million euros on the day of listing under the same economic conditions as the market conditions. TIP will also be allocated more stock quotas, and sources estimate that it will then pay another 15 million to 30 million euros.
In 2018, the Italian accessories company's sales were 513 million euros, an increase of 2.8% from 2017's 499 million euros. At constant exchange rates, sales increased by 5.2%.
Last year, Furla took control of its retail distribution in Mainland China, Hong Kong and Macau from Fung Group and repurchased its business in Singapore. At the same time, in 2018, the company also acquired Effeuno Srl, a long-term partner company specializing in the production of leather products.
Milan-based investment and commercial banks invested in accessory labels in 2016.
Milan-Prompted Tamburi Investment Partners to withdraw from Furla.
The independent investment bank and Bloom, the company that controls the majority of Furla's shares, have reached an agreement to sell shares of its accessories brand. The transaction value is set at 35 million euros.
After this action, TIP President and CEO Giovanni Tamburi and Alessandra Gritti will continue to serve as members of Furla’s board of directors.
In 2016, TIP invested 15 million euros to issue convertible loans to increase capital. This capital increase should be automatically converted to Furla stock in the initial public offering in 2018, but it never happened. At that time, TIP also promised to provide another 15 million euros on the day of listing under the same economic conditions as the market conditions. TIP will also be allocated more stock quotas, and sources estimate that it will then pay another 15 million to 30 million euros.
In 2018, the Italian accessories company's sales were 513 million euros, an increase of 2.8% from 2017's 499 million euros. At constant exchange rates, sales increased by 5.2%.
Last year, Furla took control of its retail distribution in Mainland China, Hong Kong and Macau from Fung Group and repurchased its business in Singapore. At the same time, in 2018, the company also acquired Effeuno Srl, a long-term partner company specializing in the production of leather products.
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