Italian electronics firm Gewiss announced on Tuesday that it has secured a majority stake in Beghelli and plans to launch a full takeover of the lighting and electrical company with the intention of delisting it from the stock market.
Gewiss will purchase 75.04% of Beghelli from the founding family at a price of 0.3375 euros ($0.3559) per share, representing a 46.8% premium over the previous day's closing price. The transaction is expected to finalize in the first quarter of 2025.
Following the news, Beghelli's shares, listed on the Milan Stock Exchange, surged by 42% in early trading to reach 0.33 euros per share.
In a joint statement, the two companies emphasized that the acquisition is designed to ensure continuity for Beghelli's workforce, partners, and customers. They also highlighted that integrating Beghelli's well-known brand into Gewiss would bolster Gewiss's presence in the lighting industry and expand its portfolio of products and services.
Source: https://www.reuters.com/markets/deals/italys-gewiss-buys-controlling-stake-beghelli-2024-12-10
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