The rumor regarding Ferragamo being up for sale makes the brand’s stock fly, but it is once again denied. Ferragamo isn’t the only Italian brand liked by investment funds

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The rumor regarding the sale of the brand by the Ferragamo family is once again around, the brand denies it again, and the stock rallies. The market likes these indiscretions, those that want the Florence-based brand close to being sold, in fact, the stock price had a peak +5% yesterday, according to Milano Finanza Fashion). Good news, if it wasn’t that the rallying of the stock price is (or seems to be) unfounded: a spokesperson from Ferragamo denied “categorically” the rumors spread by the press that the Ferragamo family was contacted by private equity funds for a potential sale, reiterating how the Ferragamo family has no intention of selling. Equita’s analysts point out that the fragmentation of the family (majority shareholder), leaves the brand open to possible acquisition operations. Last June (see news from June 20th), Ferragamo Finanziaria, which held 57.78% of the brand, sold 3.5%. According to Reuters, the entirety of the family still holds 65% of the company. Ferragamo isn’t the only brand that financial rumors are hitting: rumors of potential sales are also hitting Versace and Trussardi. The list of brands in the sight of investors, as written by Il Sole 24 Ore (Italian economics newspaper), may include Roberto Cavalli and Moncler. With regards to the first brand mentioned, the intentions of Clessidra (fund) are weighing in: Is the fund still interested in being a shareholder of the brand? While the latter has extended, to September 21st, the time for its buyback package worth 25.2 million stocks, the uncertainty is focused on the 5.3% held by the Eurazeo fund. Merril Lynch, we read, is allegedly already at work to “find the best options”.

 

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