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Massimo Zanetti Beverage’s top investor launches takeover bid to delist the Group

Massimo Zanetti Group MZB Group
The company's headquarters in Villorba, Treviso

MILAN, Italy – The top investor of Massimo Zanetti Beverage group said on Tuesday it would launch a takeover bid for the Italian coffee maker to delist the group from the Italian Stock Exchange’s Telematic Stock Market (STAR segment), as it wants to pursue a broader overhaul of the company.

Massimo Zanetti Beverage group – owner of the Segafredo, Chock full o’Nuts, Puccino’s and Boncafe brands – debuted on the Milan stock exchange in 2015 in an initial public offering that set a price of 11.60 euros per share.

MZB Holding S.p.A., which controls a 68% stake in the coffee maker, said it would offer 5 euros apiece to buy all the group’s ordinary shares. Massimo Zanetti stock closed on Tuesday at 3.84 euros on the Milan bourse.

The offer is launched exclusively in Italy and concerns a maximum of 10,960,037 Shares, representing 31.953% of the Issuer’s share capital.

The shares Covered by the Offer correspond to all of the Shares after having deducted 23,339,963 shares owned by Massimo Zanetti through MZ Industries representing 68.047% of the Issuer’s share capital and constituting the majority shareholding.

MZB Holding S.p.A. is assisted by BNP Paribas, in its capacity as financial advisor, and by BonelliErede, as legal advisor.