3i gains control of Mosaicon
UK-based private equity firm 3i has gained control of Mosaicon (formerly Antichi Pellettieri Bags), following the debt restructuring of the parent company Antichi Pelletieri.
3i had initially acquired its stake in the business in June 2008 in a €118m expansion deal.
The binding agreement between Antichi Pelletieri and 3i, sees the latter
increase its stake in Mosaicon from 49% to 64% without further capital increases.
The agreement is subject to antitrust approval and further depends on the debt consolidation of some of Mosaicon subsidiaries, which amounts to about €60m.
The Mosaicon portfolio include brands such as Mandarina Duck, Braccialini, Coccinelle and Francesco Biasia.
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