Home » Ieg takes over 51% of the Palakiss goldsmith center for €1 million

Ieg takes over 51% of the Palakiss goldsmith center for €1 million

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Ieg takes over 51% of the Palakiss goldsmith center for €1 million

Italian Exhibition Group (Ieg) strengthens its offering in the precious metals segment. The Italian company active in the organization of international trade fair events and listed on Euronext Milan has signed an agreement for the acquisition of 51% of the capital of Palakiss Srl. “The operation – he explained Corrado Peraboni, CEO of Italian Exhibition Group – represents a further step in the strategy defined by the group in increasing and enriching the Ieg product portfolio. The acquisition constitutes, in fact, an opportunity to strengthen the sectoral specialization of the goldsmith industry that we serve and contribute to supporting in order to create continuous business opportunities”.

Palakiss is an internationally known goldsmith center located in Vicenza, a few steps from the city’s exhibition district. Since 1999, the company has organized four annual events in which Italian and international manufacturing companies participate, offering them the opportunity to sell their gold and silver products on the spot.

The purpose of the operation is the purchase by Italian Exhibition Group of 51% of the share capital of Palakiss for a consideration of approximately one million euros.

“The acquisition will allow Ieg to expand its offering in the jewelery & fashion sector – he added Marco Carniellochief business officer of Ieg – creating interesting synergies with the main events already consolidated within the Ieg product portfolio, such as Vicenzaoro, T.Gold e Oroarezzo. Under shared and unified management, the international operator visiting Vicenza will be able to access an even wider range of products and services related to the world of jewelery and will have a single interlocutor capable of guaranteeing the best business experience”.

The takeover also includes a call option for the purchase of the remaining 49% of the share capital, exercisable 30 days after the approval of the 2024 financial statements and valid for the following three years, “at a price to be determined on the basis of average EBITDA resulting from the two financial statements approved prior to the date of exercise of the option”. The closing, subject to the conditions precedent set out in the purchase contract, will be completed at a later date.

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