Italy's Elisabetta Franchi fashion label to list in Milan in reverse takeover

Reuters Milan Sep 13, 2019, 09.46 AM(IST)

A model presents a creation by Elisabetta Franchi during the Malta Fashion Awards, the climax of Malta Fashion Week, in Valletta, Malt Photograph:( Reuters )

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The resulting entity will be called Elisabetta Franchi and trade on the alternative investment segment of the Milan bourse.

Fashion label Elisabetta Franchi is set to list on the Milan stock exchange following a business combination with shell company Spactiv, in a deal that values the Italian clothing brand at 195 million euros ($216 million).

Spactiv said in a statement it would invest 77.5 million euros to buy a stake in Betty Blue, the company of fashion designer Elisabetta Franchi, and then incorporate it via a reverse takeover.

The resulting entity will be called Elisabetta Franchi and trade on the alternative investment segment of the Milan bourse.