Italian eyewear manufacturer Safilo acquired shares in Inspecs Group between December 15th and 18th. The company announced this. The investment corresponds to a total of 25 percent of the share capital and has a total value of around 21.7 million British pounds (24.79 million euros).
This stake “reflects Safilo’s confidence in Inspecs’ long-term prospects,” management said in a statement. It offers the group a strategic opportunity for the future development of the company.
On December 15, Safilo announced that it would not make a binding offer for the British eyewear company Inspecs.
The announcement followed a statement dated December 10th. On that day, the boards of Bidco 1125 Limited and Inspecs announced they had reached an agreement. This concerns the terms of a cash takeover recommended by Bidco for the entire share capital of Inspecs.
Bidco is a company recently formed specifically for acquisition and is controlled by Luke Johnson and Ian Livingstone. Safilo had already approached Inspecs last November. At that time it was about a potential offer for the business areas of the Eschenbach Group and BoDe. A possible offer for the entire company was also examined.
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