Fin.part noted the remaining 49% of Cerruti Holding, after the recent acquisition of 51% completed in February this year. The Fin.part and family Cerruti noted that their business vocation leads to termination of the Joint Venture that set Cerruti Holding (51% Fin.part, 49% Antonio Cerruti & C. Sapa) in order to be able to focus on each other first, to Fin.part, the fashion and secondly, for the family Cerruti, the textile factory system. The acquisition of 100% of Cerruti Holding is part of a plan to accelerate the process of developing the brand Cerruti, whose potential for growth were for Fin.part above expectations. The transaction value was defined in 153 billion lire payable in three annual tranches of which the last bad at the end of July 2003. The transaction will be financed through the issuance of corporate bonds from 150 million in 3 years, which will be used to finance the other development plans of the company, with particular attention to the strategic textile house in a hurry. In particular, the bond will be guaranteed jointly by Abax Bank and UBM as book runners and lead managers.

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