(Finance) – Dear Mosconi – leading group in the luxury fashion market, active in the creation, production, printing and customization of natural fabrics serving the main international players in the luxury world – has signed the investment agreement for innovation for the acquisition of 100% of the share capital of a newco, formed by the transfer of the business branches of the Manifatture Tessili Bianchi companies and its subsidiary D-Tex.
The operation involves theacquisition of the entire share capital of a newly established company entirely owned by Manifatture Tessili Bianchi and D-Tex (“Newco”), following the transfer of two companies they owned to the aforementioned Newco; Existing credits and debts of the two companies will not be the subject of the transfer to the aforementioned Newco. In particular, the share capital of Manifatture Tessili Bianchi is entirely held by DD Holding, in turn entirely held by Mr. Luca Bianchi, and that of D-Tex by Manifatture Tessili Bianchi.
Specifically, the Agreement provides for a consideration equal to Euro 4 million which will be paid entirely in newly issued Gentili Mosconi shares through a reserved capital increase, for a total of n. 1,000,000 ordinary shares, which will be subscribed by the sellers Manifatture Tessili Bianchi and its subsidiary D-Tex, at a price of Euro 4.00 per share.
The newly issued Gentili Mosconi shares will be subject to specific lock-up restrictions effective from the date of execution of the Agreement and expiring on the date of the 3rd anniversary following the execution itself.
The Agreement also provides for theentry into the board of directors of Gentili Mosconi of Luca Bianchi, sole shareholder of the two companies through DD Holding Srl, which will maintain the role of managing director of Manifatture Tessili Bianchi, in order to guarantee managerial continuity and continue along the development path undertaken which places textile research and innovation processes at the centre.
The closing of the Transaction is expected in April 2025, subject to the fulfillment of the usual conditions precedent set out in the Agreement and following the meeting which will decide on the capital increases to service the Operation and which will be convened within the legal deadlines.
Francesco Gentili, CEO and Founder of Gentili Mosconi declared: “There was immediately a great harmony with Luca Bianchi, both guided by the passion for our work and the dream of creating ever more beautiful fabrics. This acquisition is a fundamental stage in the growth strategy of the Gentili Mosconi Groupwith the integration of the skills and know-how of Manifatture Tessili Bianchi and D-Tex, we will be able to offer international customers exclusive fabrics of the highest quality, combining artisan tradition and sustainability. We are both very aware that the union of our companies will allow us to achieve production efficiency thanks to the important synergies that will develop with Tintoria Comacina and Stamperia EMME, laying solid foundations to face the future challenges of the global market”.
Luca Bianchi, owner of Manifatture Tessili Bianchi and D-Tex commented: “This operation is the culmination of a journey started by my family over 40 years ago and continued under my management with constant growth of the company, both in terms of turnover, markets and results. I am sure that the completion of the product offering, combined with synergies and mutual skills, will constitute the starting point to be able to successfully face the challenges that the markets continually confront us with. Thanks also go to all the people who have collaborated with me and contributed to the growth of the companies and with whom I will continue to work to achieve the new challenging objectives that will arise from the integration with Gentili Mosconi”.
In the wake of the news the title Dear Mosconi shows a brilliant increase of 4.65%.
The comparison of the title with the FTSE Italia Growthon a weekly basis, shows the greatest relative strength of Dear Mosconi compared to the index, highlighting the concrete attractiveness of the stock by buyers.
At present the short-term scenario of Dear Mosconi detects a decisive rise with a target set at 2.747 Euros. In the event of a temporary physiological correction, the most immediate target is seen at 2.627. However, expectations are for a rise in the curve to the top 2.867.