Mariella Burani sells multibrand division for 75 million

The operation "is part of the group's strategic focus project in the leather goods and fashion jewelry sectors with higher margins" explained a communication from the group, which also stated that the buying price was 75 million euros, 60 million of which will be paid by December 30, 2007, with the remainder being spread over the following 36 months.

The communication also said that the operation reflects approximately 10 times the 2006 EV/EBITDA. Mariella Burani will reinvest 15 million in the company buying the multibrand division.

(Source: Ansa)