Minozzi makes takeover bid for GranitiFiandre

GranitiFiandre Group, a leading ceramic tile manufacturer based in Castellarano (RE), is planning major economic and structural changes.
The holding company Finanziaria Castellarano Ceramica owned by Romano Minozzi, controlling shareholder of GranitiFiandre with a more than 60% stake, has launched a voluntary complete takeover bid for the company.

The transaction is conditional upon reaching at least 90% of the company’s capital and includes an offer of €4 per share in cash with a premium of 55.6% on the current share price. The aim of the operation is the delisting of the company and subsequent integration into Iris Ceramiche, also controlled by Minozzi, although the details have not yet been established.