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Damiani and Rocca Merge Corporate Functions

Aug 6, 2014 4:23 PM   By Jeff Miller
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RAPAPORT... Damiani S.p.A.'s board of directors approved merging Damiani and the group's subsidiary Rocca in an effort to increase synergies and corporate functions between the two companies. The merger will not lead to an increase in capital, nor is it subject to  regulatory procedures since both companies are wholly owned without any significant interest from other related parties.

According to Damiani, pursuant to the law and the statutes in force of the companies involved, the merger will be resolved by the respective administrative bodies, except for the right of shareholders of Damiani S.p.A. representing at least 5 percent of the share capital.

Damiani S.p.A. was founded in Valenza in 1924 and is now managed by the founder's family third generation, who led the production and sale of fine jewelry and watches. The company's jewelry brands include Damiani, Calderoni 1840, Salvini, Alfieri & St. John and Bliss. Rocca 1794 is a jewelry chain with a history dating back more than 200 years and offers a brand of jewelry and watches.
Tags: damiani, Europe, Jeff Miller, jewelers, merger, rocca
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