Bulgari is not for sale

Bulgari SpA CEO Francesco Trapani reiterated that the company is not for sale, dismissing ongoing speculation that the family controlling the group could sell out.

He made the comments in an interview with the daily Il Corriere della Sera.

The luxury group is controlled by the Bulgari brothers Paolo, 69, and Nicola, 65, and Trapani, 48.

The two brothers have 23.63 pct each in the company and Trapani 4.43 pct. Their stakes are parked in a shareholder syndicate that is tacitly renewed every two years, according to the daily.

The next expiry date is July 2008, and any member has to give a 12-month notice to leave the syndicate, it added.

Trapani said the two brothers — who are also his uncles — do not want to pass for the Bulgaris that sold the company which ‘has been family property for 150 years.’

Trapani said the group is carrying out large investments to increase in size, especially in the retail business.

The group could also carry out acquisitions in the jewellery, watch and accessories sectors, he added.

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