Castellarano, Italy, Jan.15-- Granitifiandre, a leading company of ceramic slabs, based in Reggio Emilia has acquired Savoia Canada for 9.6 million Canadian dollars, or 5,896,081.56 euros. Savoia Canada, distributes high quality flooring to the commercial market.
The transaction, which will be spread out over a five year period, involves the initial taking over of 50.01% (3,685,787.98 euros in nine installments, regulated by put and call options, of 442,058.71 euros, which will be applied the Euribor rate, surcharged by 1.25 pct).
