Gewiss Acquires Controlling Stake in Beghelli Lighting
(Reuters) - Italian electronics group Gewiss said on Tuesday it had agreed to buy a controlling stake in Beghelli and will launch a takeover bid on the rest of the lighting and electrics company with the aim of delisting it.
Gewiss will acquire a 75.04% stake from members of the Beghelli family at 0.3375 euros ($0.3559) per share, which includes a 46.8% premium over Monday's share price. The bid will be completed in the first quarter of 2025.
The decision sent Milan-listed Beghelli shares up 42% in early market trade to 0.33 euros.
"Beghelli will become part of Gewiss, as part of a project aimed at ensuring continuity for Beghelli's employees, collaborators and customers," the two companies said in a statement.
The integration of the widely-recognised Beghelli brand will allow Gewiss to increase its market share in the lighting sector and widen its offer of products and services, the statement added.
($1 = 0.9483 euros)
(Reporting by Romolo Tosiani in Gdansk; Editing by Louise Heavens)
