Italy's Elisabetta Franchi fashion label to list in Milan in reverse takeover

Fashion label Elisabetta Franchi is set to list on the Milan stock exchange following a business combination with shell company Spactiv, in a deal that values the Italian clothing brand at 195 million euros ($216 million).

Spactiv said in a statement it would invest 77.5 million euros to buy a stake in Betty Blue, the company of fashion designer Elisabetta Franchi, and then incorporate it via a reverse takeover.

The resulting entity will be called Elisabetta Franchi and trade on the alternative investment segment of the Milan bourse.