Ocean Global, a large distribution company based in Shenzen, is the Chinese potential investor who made a 60 million euros offer for a 38% stake in the capital of Giochi Preziosi, the well known Italian producer and distributor of toys, MF-Milano Finanza writes today (see a previous post by BeBeez).
The 38% stake is now owned by Lauro Ventidue spa (si veda altro articolo di BeBeez), the investment veichle in turn owned by funds of Clessidra sgr (57.6%), Hvb Capital Markets (24.2%) e Hamilton Lane fund (18.2%).
MF-Milano Finanza also writes that agreements between shareholders and financing banks include a change of control clause that would be triggered if the 38pct stake is sold. This means that other financing investors (Intesa Sanpaolo with 14,25% and Idea Capital Funds sgr with 5%) might decide to sell. As far as chairman Enrico Preziosi (42,1%) is concerned, he would instead remain with a significant stake in the group.
In the meantime ceo Marco Lischetti is bringing back on track Giochi Preziosi’s figures. Fiscal year 2013-2014 ended last 30 June saw consolidated revenues of 871 million euros in line with 2012-2013, an ebitda of 42,5 millions (a big jump from 3 millions the previous year) and a smaller net loss from the previous one of 182 millions. Consolidated debt lowered to 250 millions.
Supportive to the business were above all products related to some Disney characters such as Peppa Pig and singer Violetta and to the Ninja Turtles. These same brand are supporting revenues this year too. And if the Ocean Global deal is closed, Preziosi is surely expanding its business in China.