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|| Egyptian holding Acquires 35% of Italian clothing firm for $35 million

Arafa Holding ItalyAl Arafa for Investment and Consultancies, an Egyptian holding company, acquired a 35% stake in Italian clothing firm, Forall Confezioni, for $35 million.

Arafa Group has also obtained a five-year call option for the remaining 65% of Forall Group; this option will allow Arafa to fully consolidate Forall’s financial results immediately.

(Forall Group was established in Vicenza, Italy, in 1970 and reported total revenues of $184 million with an EBITDA of $14 million for the year ending December 2007. The group is the owner of brands including “PAL ZILERI” and “LAB”, among others. A global menswear brand, PAL ZILERI is distributed in 76 countries from Europe, the United States and Japan to China, India, and the GCC.)

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