Profound reorganization at Max Mara, the luxury company owned by the Maramotti family, with the Società Anonima Finanziaria Emiliana (formerly Max Mara Finance) which will become a safe specializing in financial management while Cofimar (which owns the stake in Unicredit and Luxembourg's Ibef) will be "devoted to the management of bank investments" and Max Mara Fashion Group to the industrial business, i.e. ultimately to the core business, which is fashion.
The reorganization took place in the last few weeks and through two separate operations that led to the Emilian Financial Anonymous Company resources for a total of 1,085 billion euros in the name of the same strategy: "An organic project for the optimization of financial resources which will allow for the formation of a greater mass with all the consequent advantages".
The first transaction saw the Max Mara Fashion Group spin off and split in favor of Anonima Finanziaria "the business unit intended for legal and audit services together with the resources employed and other assets, contracts and securities": a package valued at 900 million in equity and which includes, among others, properties with a total value of 41 million scattered throughout Italy from Milan (in Via Montenapoleone) to Rome to get to Genoa, Turin and Venice, bank bonds for over 330 million (of Banco Bpm, Intesa Sanpaolo and Ubi) and a credit of 380 million from the same Anonima Finanziaria.
The second operation, on the other hand, involved Cofimar, which it also transferred to Anonima Finanziaria liquidity exceeding the company's needs for 185,2 million, equivalent to the non-interest-bearing credit of the same amount which he claimed from the same company.
