MILAN — Changes are afoot at Elisabetta Franchi’s parent company Betty Blue SpA, after it indefinitely postponed plans for an initial public offering originally expected in the first quarter of 2020.
The company’s IPO on the AIM segment for small caps of the Italian Stock Exchange was slated to encompass a merger of Betty Blue SpA, owned by the designer, and Spactiv, listed on the AIM segment and promoted by Borletti Group and Milano Capital. Spactiv is a special purpose acquisition company backed by entrepreneur Maurizio Borletti; former Emanuel Ungaro ceo Paolo De Spirt, and Gabriele Bavagnoli. The transaction valued Betty Blue at 195 million euros.
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