Damiani to Delist From Milan Bourse

MILAN — The Damiani family is launching a takeover bid with the goal to delist the namesake jewelry firm from the Milan Stock Exchange through the holding company Leading Jewels, according to a note published on the Italian Bourse web site.
D Holding, a company controlled by siblings Guido, Giorgio and Silvia Damiani, has a 60.82 percent stake in Leading Jewels. The bid will take place to buy more than 13.8 million shares, priced at 0.44 euros each, and representing 16.74 percent of the capital. The maximum value of the offer will total 11.8 million euros, or 0.855 euros per share, a premium of around 5.04 percent compared with 0.814 euros, the price of the shares on Dec. 27, the last day before the announcement of the takeover bid.
Damiani went public 11 years ago, with shares priced at 4 euros.
The Valenza, Italy-based company was established by Enrico Grassi Damiani in 1924.
In addition to its own namesake label, the company has invested in jewelry firms Salvini, Rocca, Calderoni and Pomellato, which is now controlled by Kering. In 2016,  the Damiani family acquired a majority stake in the Venini company, known for its colorful and artistic glass designs, and a leading firm in Murano, the glass production hub in

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