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Zignago: Zi.Fi. bid for remaining shares

Zi.Fi., the Italian vehicle company owned by members of Italy“s Marzotto and Dona dalle Rose families, said it planned to increase its stake in textile, wine and glass group Industrie Zignago Santa M…

Zi.Fi., the Italian vehicle company owned by members of Italy“s Marzotto and Dona dalle Rose families, said it planned to increase its stake in textile, wine and glass group Industrie Zignago Santa Margherita S.p.A. to 100% by launching a residual takeover bid for the 4.31% stake (comprising 1,083,481 Zignago shares) that it does not yet own. Zi.Fi. currently owns 95.69% of Zignago“s shares after a mandatory takeover bid, carried out between 8 August 2005 and 12 September 2005. The mandatory takeover bid, at a price of EUR 18.6 (USD 22.38) per share, was aimed at the delisting of Zignago. Zi.Fi.“s mandatory takeover bid for Zignago was announced on 7 July 2005 as a counterbid to an offer from other members of the Marzotto and Dona dalle Rose families, which was supported by Zignago“s chairman Antonio Favrin, it was reported on 15 July 2005. The group backed by Favrin abandoned its takeover plan after the rival investors increased their bidding price.

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