ITALY - Kingsbridge in talks over IT Holding

IT Holding is said to have received a proposal from a foreign fund which includes a capital increase and the repurchase of a bond. Shares in the fashion group, which owns the Gianfranco Ferre brand, were suspended on Tuesday pending the release of a company statement. On Monday, the shares ended at an all-time low of EUR 0.163, giving the company a market capitalisation of about EUR 40m. PA Investments, owned by IT Holding's chairman Tonino Perna, holds just over 60% of the company.

The company had net debt of EUR 295.4m at the end of September and has twice requested to postpone a bank loan payment due in October.

Kingsbridge is a unit of Austrian investment company Hardt.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Southern Europe