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Fintiles Looks To Buy Marazzi

Fintiles is seeking to acquire Italian ceramic tile maker Marazzi SpA. Fintiles is an investment group owned by Filippo Marazzi, and private equity firms Permira and Private Equity Partners. Fintiles has offered EUR 7.15 per share for the company, a premium of 14% on Monday's share price.

Permira and Private Equity Partners invested in Marazzi in 2004, acquiring 28% and 4% stakes respectively.

The shareholders floated Marazzi in February 2006 at EUR10.25 per share, representing a market capitalisation of EUR1.6bn.