Italy's Gewiss buys controlling stake in Beghelli
10/12/2024 09:04
Dec 10 (Reuters) - Italian electronics group Gewiss said
on Tuesday it had agreed to buy a controlling stake in Beghelli
BE.MI and will launch a takeover bid on the rest of the
lighting and electrics company with the aim of delisting it.
Gewiss will acquire a 75.04% stake from members of the
Beghelli family at 0.3375 euros ($0.3559) per share, which
includes a 46.8% premium over Monday's share price. The bid will
be completed in the first quarter of 2025.
The decision sent Milan-listed Beghelli shares up 42% in
early market trade to 0.33 euros.
"Beghelli will become part of Gewiss, as part of a project
aimed at ensuring continuity for Beghelli's employees,
collaborators and customers," the two companies said in a
statement.
The integration of the widely-recognised Beghelli brand will
allow Gewiss to increase its market share in the lighting sector
and widen its offer of products and services, the statement
added.
($1 = 0.9483 euros)
(Reporting by Romolo Tosiani in Gdansk; Editing by Louise
Heavens)
((Romolo.Tosiani@tr.com;))