PURCHASE OPTION GRANTED TO MANDARIN & CERIT
As part of the development programme for the project entitled “High-End Ceramic Cluster”, Tagina and CERIT – La Ceramica Italiana (the latter led by Graziano Verdi in partnership with the investment fund Mandarin Capital) have reached an agreement to grant Mandarin & CERIT the option to acquire Tagina subject to certain conditions. Through this operation, “Tagina will be able to benefit from the strategic consulting services offered by Graziano Verdi and will achieve significant levels of sales and professionalism”, commented Chairman
Mario Moriconi. Moreover, it will generate significant development synergies as part of the expansion strategy already pursued by Mandarin Capital and Graziano Verdi, who have signed a number of letters of intent with other sector companies that may lead to acquisitions by this spring.
Lorenzo Stanca, Managing Partner and CEO of Mandarin Capital, commented:“We have a strong belief in the value of aggregation amongst leading companies in the ceramic sector and are working together with Graziano Verdi to achieve this goal.”