Buccellati majority shareholder Gansu Gangtai could sell all or part of 85% stake - report (translated)
23 SEP 2018
Gansu Gangtai [Gang Tai Kong Gu; SHA:600687], a Chinese gold and jewellery manufacturing company, could sell all or part of its 85% stake in Italian jeweller Buccellati Holding, the weekly edition of Italian-language daily Milano Finanza reported. The report cited market rumours noting that Gansu could look for other shareholders rather than exiting entirely.
The article added that Buccellati posted revenues of EUR 52m in 2017, up 19.6% on 2016. The item added that EBITDA for 2017 was a negative EUR 1.5m while the loss was EUR 11.55m.