MILAN — Safilo Group SpA escaped bankruptcy on Monday as Hal Holding NV said it had accepted 50.99 percent of the troubled Italian eyewear maker’s tendered notes.
The Amsterdam-listed Hal waived the minimum 60 percent tender threshold and said it had reached an agreement with Safilo and Only3T SpA, which holds a 39.9 percent stake in the company and is controlled by the Tabacchi family,to acquire an equity interest in Safilo ranging from 37.23 percent to 49.99 percent. Hal will proceed with the cash settlement on Friday and the acquisition of Hal’s equity interest in Safilo is expected to close in the first quarter of 2010.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
"That's something that resonates with me too because I'm so locked into a number. If I go over that number it completely ruins my day so it's nice to get detached from the number on the scale." - Chelsea Handler on Kelly LeVeque's book "Body Love." #wwdeye (📷: John Salangsang)