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Zignago: takeover bid ends with 93% subscription

The mandatory takeover bid for Italian textile, wine and glass group Industrie Zignago Santa Margherita launched by vehicle company Zi.Fi. was concluded on 12 September 2005 with a subscription equal …

The mandatory takeover bid for Italian textile, wine and glass group Industrie Zignago Santa Margherita launched by vehicle company Zi.Fi. was concluded on 12 September 2005 with a subscription equal to 93.4% of the offered shares. The bid by Zi.Fi., which is owned by the Marzotto and Dona dalle Rose families, was conducted at a price of EUR 18.6 (USD 22.882) per share and was aimed at the delisting of Zignago. The operation concerned more than 12.9 million Zignago ordinary shares, equal to 51.7% of its capital. Zi.Fi., Marco Don dalle Rose and the Marzotto brothers Gaetano, Stefano, Nicolo and Luca, have a combined stake of some 48% in Zignago. Zignago will hold a general shareholders“ meeting on 21 September 2005 when the new members of the company board will be elected. The current president and vice president of Zignago are Antonio Favrin and Andrea Don dalle Rose. Pietro Marzotto and Francesco Caretti, currently members of the board, have indicated their willingness to resign from their posts. Earlier on 12 September 2005, Zi.Fi. presented a list of nominations to the new board of Zignago, including Alessandro Benetton and Lino Benassi, currently vice president of Italian insurer Toro Assicurazioni.

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