Equity Bulls - Himatsingka Seide acquires further 30% stake in Giuseppe Bellora S.p.A, Italy

08/11/2014

on EquityBulls (www.equitybulls.com)

Himatsingka Seide Ltd has announced the acquisition of 30% stake in Giuseppe Bellora S.p.A, Italy (owner of the luxury Italian bedding brand "Bellora"). The company already holds 70% share capital of Giuseppe Bellora S.p.A, Italy and with this acquisition the Himatsingka Group has become the sole shareholder of Giuseppe Bellora S.p.A.

The company acquired the 30% stake from GB Invest S.r.l.

Bellora is a reputed luxury home textile brand with a strong heritage. The brand has an extensive presence in Italy and is amongst the most recognized luxury bedding brands in that geography. The brand is exploring opportunities for expansion across Europe in select markets of Asia.

Shares of HIMATSINGKA SEIDE LTD. was last trading in BSE at Rs.83.95 as compared to the previous close of Rs. 80.9. The total number of shares traded during the day was 91767 in over 2340 trades.

The stock hit an intraday high of Rs. 86.5 and intraday low of 82.5. The net turnover during the day was Rs. 7769667.
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