(Alliance News) - Pattern Spa announced Wednesday that it has finalized the purchase, through its 80 percent subsidiary SMT - Società Manifattura Tessile Srl, of 100 percent of Nuova Nicol Srl, an Emilia-based company specializing in the production of women's luxury knitwear, directly from its three partners Gianluca Nicoli, Michele Marchi and Rita Nanni.

The price, amounting to EUR6 million, was paid by SMT to the sellers for 80 percent today, and the remaining 20 percent will be paid after the approval of Nuova Nicol's financial statements as of Dec. 31, 2025, assuming the existence of the previously agreed conditions.

A shareholders' agreement was also signed on Wednesday, according to which the management of Nuova Nicol will be entrusted to a five-member board of directors appointed by SMT, two of whom will be Luisa Rinaldi and Valerio Nicoli.

Pattern closed Tuesday at EUR7.35 per share.

By Chiara Bruschi, Alliance News reporter

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