(Teleborsa) – Patternsan Italian company founded in 2000 by Francesco Martorella and Fulvio Botto, among the most important operators in the design, engineering, development, prototyping and production of clothing lines for the most prestigious top-of-the-range global brands in the men’s and women’s fashion shows and first lines segment , announces that today the purchase, through its subsidiary (80%) SMT, of 100% of Umbria Verde Mattioli (UVM), an Umbrian company specialized in the production, processing and marketing of luxury knitwear, was completed by the two founding members Simone and Leonardo Mattioli.
The acquisition priceequal to 20 million euros, was paid by SMT to the Sellers, while 8 million today, for 3 million, will be paid in annual installments of the same amount, until the third anniversary following the date of execution, subject to permanence of selling members on the UVM Board of Directors.
Finally, the remainder of the consideration equal to 9 million was offset to fully subscribe and release, again today, the capital increase of SMT reserved for the Sellers for the acquisition by them of a minority stake in SMT, equal to 10% overall.
An agreement was signed today shareholder agreement between Pattern, Camer, Leonardo Mattioli and Simone Mattioli, as partners of SMT, which provides, among other things, that the Board of Directors of SMT is made up of 5 members of which 3 appointed by Pattern, 1 by Camer and 1 by Simone Mattioli; the right of veto on some matters of a meeting nature in favor of the Sellers as minority shareholders there are limitations on the transfer of shares for SMT shareholders to ensure management stability of the company and a right of option between Pattern and the Sellers (options “put” and “call”) on all SMT shares held by the Sellers.
(Photo: Leon Seibert on Unsplash)
