MILAN — Nicola Bulgari, vice chairman of the Roman jewelry firm, sold 4 million shares, or 1.33 percent of the share capital, to Italian and international institutional investors to finance “personal projects.”

This story first appeared in the December 2, 2009 issue of WWD. Subscribe Today.

According to a company statement, both Paolo Bulgari, chairman, and Francesco Trapani, chief executive officer, agreed to the transaction as it doesn’t impact the control of the company. Bulgari’s shares were allotted in the shareholder’s agreement. Bulgari shares dropped 2.84 percent to 5.98 euros, or $9.01 at current exchange.

Nicola Bulgari is in charge of the brand’s silverware collections and has a long-standing passion for race cars and antique English silver.

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