Diadora SpA said Wednesday it had reached an agreement for Geox SpA's founder and Chairman Mario Moretti Polegato to buy all Diadora's assets through his investment arm, Lir. Terms were not disclosed.
“Lir's offer has been deemed the most appropriate to follow up the composition with creditors,” Diadora Board President Franco Fasolato said in a statement, according to the Wall Street Journal. He added that Geox will “ensure the best development of Diadora's assets, together with the preservation of the employment.”
Diadora said Lir is in exclusive talks and its offer is the beginning of a final negotiation.
