In Vicenza the pavilion located in front of the space that hosts Vicenzaoro, i.e. the Palakiss, passes to the Italian Exhibition Group. The operation has a modest value (around 1 million euros), but offers further opportunities to the exhibition centre. Ieg, the company that organizes Vicenzaoro and which is listed on the Milan Stock Exchange, acquires 51% of the capital of Palakiss srl. The agreement was signed with Andrea Marcon, who will remain CEO of Palakiss, a goldsmith center a few steps from the exhibition center and which since 1999 has organized four annual events in which Italian and international manufacturing companies in the gold sector participate.
The operation represents a further step in the strategy defined by the Group to increase and enrich the Ieg product portfolio. The acquisition constitutes, in fact, an opportunity to strengthen the sectoral specialization of the goldsmith industry that we serve and contribute to supporting in order to create continuous business opportunities.
Corrado Peraboni, CEO of Italian Exhibition Group
The terms of the agreement also include a call option for the purchase of the remaining 49% of the share capital, exercisable 30 days after the approval of the 2024 financial statements and valid for the following three years, at a price to be determined on the basis of the average Ebitda resulting from the two financial statements approved prior to the date of exercise of the option. Closing date to be determined.
The acquisition will allow Ieg to expand its offering in the Jewelery & Fashion sector, creating interesting synergies with the main events already consolidated for Vicenzaoro, T.Gold and Oroarezzo. Under shared and unified management, the international operator visiting Vicenza will be able to access an even wider range of products and services related to the world of jewelery and will have a single interlocutor capable of guaranteeing the best business experience.
Marco Carniello, Chief Business Officer of Italian Exhibition Group
