Merloni Elettrodomestici SpA said its board agreed yesterday to sell a 40% stake in the factoring company Faber Factor for Ђ4.2m to Fineldo, the holding company of the Merloni family which controls the white product manufacturer.
The value of the deal is lower than the stake's book value and was set on the basis of an appraisal carried out by Deloitte Financial Advisory Services, it said.
The transaction is scheduled to be closed by 31 December.
Merloni will retain a 10% stake in Faber Factor, it added.
Source: AFX Europe
