Gancia sparkling wine will increasingly speak Russian. Roustam Tariko, owner of Russia Standard Corporation, will invest another 13,5 million in the well-known Piedmontese winery and is ready to rise to 86%. Tariko, credited with wealth close to 2 billion dollars, had already bought 70% of Gancia a year and a half ago for about 100 million (including debts), leaving 30% to the Gancia family.
All of this will come through a capital increase approved by the company's shareholders' meeting which essentially has two objectives: to support the business plan and provide guarantees to the creditor banks in view of the renegotiation of long-term loans (approximately 19 million). Tariko has undertaken to underwrite any unopted shares, setting a series of tranches for payments with a final deadline of January 2014. In all, the recapitalization will reach 13,5 million, of which the Russian group has already paid five in recent months (for a future capital increase).
Gancia ended 2011 and 2012 with losses of 6,4 and 6,6 million respectively.
