March 20, 2019 / 5:15 PM / 2 months ago

El.En. top executive doesn't expect sale of majority stake to funds

MILAN (Reuters) - Italian laser equipment maker El.En. has attracted interest from investment funds but its current owners are unlikely to sell their combined stake of just under 50 percent, the company’s general manager told Reuters on Wednesday.

A banking source said several private equity funds are looking at El.En. among mid-sized listed Italian companies that they deem undervalued.

“There is interest form the funds, but I don’t think the primary goal is to let funds in with a majority stake,” Paolo Salvadeo said.

El.En., which has a market capitalization of around 380 million euros ($431.5 million), is 48 percent owned by a group of top executives at the company and a Tuscan industrial family.

The free float is around 46 percent.

Reporting by Andrea Mandala, editing by Silvia Aloisi

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below