MILAN (Reuters) -Sports trading-card company Panini has picked Citi as a financial adviser to explore strategic options for the company, including a sale, two sources close to the matter told Reuters.
Panini Engages Citi to Explore Strategic Options Amid Leadership Change
Panini's Strategic Review and Leadership Transition
MILAN (Reuters) -Sports trading-card company Panini has picked Citi as a financial adviser to explore strategic options for the company, including a sale, two sources close to the matter told Reuters.
Background on Panini and Its Market
The Italian publisher, best known for its popular album stickers featuring soccer stars from top leagues and also for producing comics, has previously worked with advisers and considered a possible sale over the years.
Potential Buyers and Valuation Insights
The new adviser has been named after major shareholder and CEO Aldo Hugo Sallustro died in April. Ivam Ataide Faria has been named new Chief Executive Officer.
Panini and Citi declined to comment.
Il Sole 24 Ore reported on Thursday that private equity firms and U.S. group The Topps Company could be interested in acquiring the business.
Corriere della Sera reported that the Modena-based group, whose revenues totalled around 1.6 billion euros ($1.9 billion) last year, could be worth between 3 billion euros and 4 billion euros.
($1 = 0.8575 euros)
(Reporting by Elisa AnzolinEditing by Keith Weir)
