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Italian brand OVS to increase stake in Goldenpoint to 51% by 2025

17 Jul '24

1 min read

Italy fashion firm OVS to increase stake in Goldenpoint to 51% by 2025

Pic: OVS S.p A.

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OVS S.p.A. has finalised an investment in Goldenpoint S.p.A., acquiring 3 per cent of its share capital.
This will allow OVS to increase its stake to 51 per cent by 31 July 2025, with an option to acquire the remaining 49 per cent between 1 August 2026 and 31 July 2029.
This agreement aims to enhance OVS's role in the underwear and swimwear market.

OVS S.p.A. has finalized the investment agreement in Goldenpoint S.p.A. by subscribing a convertible bond and acquiring 3% of the share capital for a total amount of €3 million (~$3.3 million).

The agreement also provides that, through the conversion of the bond and the exercise of a subsequent call option, OVS will increase its stake in Goldenpoint to 51% by 31 July 2025.

The remaining 49% of the share capital may be acquired by OVS through the exercise of put and call options within a time window from 1 August 2026 to 31 July 2029.

The agreement consolidates the industrial integration process of Goldenpoint into OVS, aimed at strengthening the group's main role in underwear and swimwear through the enhancement and development of a retail network with a dedicated brand.