Damiani Family to Buy Out Namesake Jeweler

RAPAPORT... The Damiani family plans to acquire the Italian jewelerthat bears its name, thereby delisting it from the Milan Stock Exchange. Leading Jewels, the Damianis' holding company, hasoffered to buy the entire group for up to EUR 11.8 million ($13.5 million), itsaid Friday. The company proposes to spend EUR 0.86 ($0.98) per share, representing a 5%premium to the stock's Thursday closing price. Damiani shares rose 6%Friday following the announcement. Leading Jewels, controlled by Damiani president GuidoDamiani, currently owns 60% of shares in the luxury wholesaler and retailer,according to the company's website.Damiani, which owns the brands Salvini,Bliss, Calderoni, Venini and Rocca 1794, made its stock-market debut in 2007. Image: Damiani jewelry. (Damiani).