(Alliance News) - Caleffi Spa announced Friday that its board of directors has resolved to purchase from Giuliana Caleffi Srl the remaining 30 percent of the share capital of its subsidiary Mirabello Carrara Spa, a company specializing in the production, purchase and sale of home textiles under its own brands and under license from authoritative fashion brands, and to sign the related sale and purchase agreement.

The transaction provides for the sale of 30 percent of Mirabello's share capital from Giuliana Caleffi to Caleffi in the amount of EUR1.5 million, of which EUR897,340 in cash and EUR635,000 in Caleffi ordinary shares at a price of EUR1.27 per share, immediately liquid and thus for a total of 500,000 ordinary shares.

The sale and purchase agreement provides for a commitment by Giuliana Caleffi not to carry out, directly and indirectly, certain activities in competition with the activities carried out by Mirabello for a period of five years from the date of completion of the transaction in the countries in which Mirabello itself carries out its activities; as well as a lock-up commitment of two years, also starting from the date of completion of the transaction, with respect to the Caleffi shares subject to the sale and purchase.

Caleffi trades in the red by 1.4 percent at EUR1.05 per share.

By Chiara Bruschi, Alliance News reporter

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