ITALY: Children's Footwear Brand Primigi Acquired By Imac
Although full details of the takeover have not been revealed, it is thought that Primigi was valued at just under half this year's expected turnover. Acquired by UBS Capital in 1995, the company recorded revenues of around L90 billion in 2000, and this is expected to generate around L100 billion in 2001.
Imac produces footwear for various names and exports a large proportion of its output to Germany. It reported a turnover in the region of L100 billion last year.
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