Zucchi says sealed takeover accord with Astrance

Vincenzo Zucchi SpA

09/10/2015 07:47

MILAN, Oct 9 (Reuters) - Indebted Italian house linen maker 
Zucchi  ZUCI.MI  has accepted a binding offer from French 
investment firm Astrance Capital as it seeks to raise fresh cash 
and seal a debt restructuring accord with creditors, it said on 
Friday. 
    Shares in Zucchi were suspended from trading after rising 
8.4 percent on news of the deal. 
    Astrance is set to take control of GB Holding, Zucchi's  key 
shareholder, and then buy into a reserved 10 million euro 
capital increase at the textile group. 
    Astrance's offer is subject to Zucchi reaching a debt 
restructuring agreement with creditors. 
    GB Holding, which is owned by Juventus and national team's 
goalkeeper Gianluigi Buffon, controls 56 percent of Zucchi. 
 
 (Reporting by Valentina Za) 
 ((valentina.za@thomsonreuters.com; +39 02 6612 9526;)) 
 
Keywords: ZUCCHI ASTRANCE/DEALS