Aeffe: Bologna court authorises two million euro shareholder loan

The Court of Bologna has authorised Aeffe spa to take out an interest-free shareholder loan of 2 million euros (2.29 million dollars) with shareholders Colloportus srl and Fquattro srl, companies owned by Alberta and Massimo Ferretti based in San Giovanni in Marignano.

Yesterday, in a statement, the company listed on the Euronext Milan market of the Italian Stock Exchange announced that, “following the hearing on June 26, the Court of Bologna has authorised the company to take out an interest-free shareholder loan of two million with shareholders Colloportus srl and Fquattro srl, with recognition of the pre-deduction benefit pursuant to Article 22, paragraph 1, letter b), Ccii (the shareholder loan)”.

Shareholder loan repayment is guaranteed by a pledge on a current account

The shareholder loan, fully disbursed yesterday, July 9, is intended to meet current financial needs until the end of July 2026. This is pending the receipt of binding offers announced by potential investors.

The company recently announced that due diligence and discussions with Oxy Capital Italia srl are still pending following the expression of interest it submitted. “Several additional non-binding offers have been received for the purchase of the company's and its subsidiary Pollini spa's (Pollini) business complexes. These may become binding offers following a further period of due diligence and evaluation requested by the potential investors,” Aeffe explained in a note a few weeks ago.

Furthermore, the board of directors of the company and that of Pollini considered the non-binding offer made by an industrial operator active mainly in the Asian market to be of particular interest. The operator is in the clothing and fashion sector and has significant experience in managing international brands.

Upon receipt of these offers, the company will submit a new application to the court. This application will seek authorisation for the recognition of the pre-deduction benefit under Article 22, paragraph 1, letter b), Ccci for a further, more substantial loan. The loan is intended to cover the financial needs of the entire interim period until closing.

The repayment of the shareholder loan is guaranteed by a pledge on a current account, the management explained.

The shareholder loan will be repaid on the earliest of the following dates: the expiry of the 18th month from the date of disbursement; the crediting to the company of the consideration from the sale of its business complex; or the collection by the company of the consideration from the sale of a warehouse property owned by Aeffe in San Giovanni in Marignano.