Milan, May 25, 2023 – The signing of an agreement for the sale of Florence InvestCo S.r.l. to Permira has been announced today. Florence InvestCo S.r.l. - in which Italmobiliare has an equity interest of 13.98% - holds a majority stake of the capital of Gruppo Florence S.p.A.
Italmobiliare has been a shareholder in Florence since the start of this initiative - born with the aim of aggregating Italian industrial excellence in the subcontracting of luxury textile manufacturing - and is expected to realize around 78 million euro as a result of the sale, net of transaction costs and top management bonuses.
“Florence is an outstanding project. We very proudly contributed to its launch and development, thus creating in just few years a leading player of textile manufacturing with exceptional development opportunities that the new shareholder will undoubtedly be able to grasp” declared Carlo Pesenti, Chief Executive Officer of Italmobiliare.
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