December 28, 2018 / 7:10 AM / 5 months ago

Founding family launches takeover to delist Casa Damiani jewelry group

MILAN (Reuters) - The founding family of Italian jewelry group Casa Damiani DMN.MI said on Friday it would launch a takeover to buy the company and delist it from the Milan bourse.

Leading Jewels, the holding company of the Damianis, will buy Casa Damiani’s shares at 0.855 euros apiece, a 5.04 percent premium to the stock’s closing price on Dec. 27.

The holding company, which already controls Casa Damiani, will spend up to 11.8 million euros ($13.52 million) to buy the whole group, the family said in a statement.

The company, which went public in 2007, is active in the jewelry sector through brands such as Damiani, Salvini, Bliss and Calderoni.

Reporting by Francesca Landini; Editing by Subhranshu Sahu

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