Marazzi Initiates Plan to Go Public

Sassuolo, Italy, October 14, 2005--The executive board of Marazzi Group has approved a plan to go public. Procedures to obtain the approval of CONSOB watchdog and Borsa Italian are being started. The joint task of Global Coordinator and Book Runner has been entrusted with Mediobanca and Morgan Stanley; legal advisor will be Simmons & Simmons. The global offer will consist of a public sale bid in Italy, and allocation to private investors in Italy and abroad. The group is expected to go public in the first half of 2006. The Marazzi family, majority shareholder, "is determined to keep the control of the company, even after its listing" reports a statement, adding that "investment funds promoted and/or managed by Permira and Private Equity will remain an important presence in the corporate capital, even after the IPO". Marazzi Group is world leader in ceramic tiles designing, production and marketing, operating in 130 countries, employing 5,500 people in 20 factories, with a consolidated turnover of 456.6 mln euro (+13.3 pct) and profit before tax of 52.5 mln euro (+138 pct) in the first half of 2005.

Related Topics:Marazzi USA, Mohawk Industries

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