Italian luxury group Aeffe acquired full control of Moschino through the acquisition of the remaining 30% stake it did not own in the Italian brand, it said on Wednesday.
The price of the acquisition amounts to 66.6 million euros ($78.51 million), it added in a statement.
Aeffe, which also owns Alberta Ferretti, Philosophy by Lorenzo Serafini and Pollini brands, said it would pay for the acquisition partly in cash and partly through credit lines.
Trading in the company’s shares was suspended pending the news and restarted at 1500 GMT. The stock then accelerated earlier gains, closing up 6.4%.
Source: Reuters.com