Italian jewelry group Casa Damiani is on the brink of a major transformation as the founding family, the Damianis, have revealed their plans to take over and delist the company from the Milan stock exchange. This strategic decision is being led by Leading Jewels, the holding company owned by the Damianis, who already hold a significant stake in Casa Damiani.
The Damianis have proposed to purchase Casa Damiani’s shares at a price of 0.855 euros each, offering a premium of 5.04 percent over the stock’s closing price on Dec. 27. This move signals their confidence in the company and its potential for growth. The buyout is expected to require an investment of approximately 11.8 million euros ($13.52 million), a significant but calculated risk for the family.
Casa Damiani is a renowned player in the jewelry industry, with a portfolio of prestigious brands including Damiani, Salvini, Bliss, and Calderoni. Having been a publicly traded company since 2007, the decision to go private represents a new chapter in the company’s history. It aligns with the family’s vision to exert greater influence over Casa Damiani’s strategic direction and operations.
The takeover and delisting of Casa Damiani mark a pivotal moment for the company, underscoring the Damianis’ unwavering commitment to its continued success and growth. As Casa Damiani transitions to private ownership, it will be interesting to observe the impact of this move on its future trajectory within the competitive jewelry market.
For more information on Casa Damiani and the Damianis’ takeover bid, visit Casa Damiani’s official website and Reuters’ coverage of the acquisition.
