Italian fashion brand Braccialini is going to be controlled by an Asian new investor, MF-Milano Finanza writes today.
The news was announced yesterday by Nino Attanasio, ceo of HAT Holding,, an Itlaian investment vehicle which owns a 22.22 pct stake in Bracciialini shareholders capital. Attanasio was speaking at HAT Holding’s shareholders annual meeting.
Attanasio said that Braccialini received non binding offers from two potential Asian financial investors who are now conducting due dilingence on the company, one from Shangai and the other from Singapore. Both offers will retain entrepreneurs Riccardo Braccialini as a shareholder. He now controls a 21.84 pct stake in the company, while HAT coinvestors Nem sgr (22,22%), Sici sgr (33,33%) and Ambromobiliare spa (0,39%) have the rest. HAT and its coinvestors would sell their stakes to the new investor..
A trade sale is then much more probable for Braccialini now than the listing on the Italian Stock Exchange on the SMEs market, Aim Italia, as it was rumored till now.
HAT invested in Braccialini in 2011 a total of 4.5 million euros of which 500k euros as a subscribtion of a convertible bond paying an 8% annual coupon.
Braccialini produces and sells bags, shoes and leather items with its own brands (among them Braccialini and Francesco Biasia) and under licence (among them VivienneWestwood and Gherardini), The company reached 68,79 million euros of revenues in 2013 (from 77 millions in 2012) with an ebitda of 5.3 millions (from 2.7 millions) and a net financial debt of 23.6 millions (from 22.8).
