Franchi Umberto Marmi S.p.A. (BIT:FUM) agreed to acquire 50% stake in Ingegner Giulio Faggioni Carrara Srl from Giulio Vanelli Marmi - La Civiltà del Marmo Srl for ?67 million on December 14, 2020. The value of the transaction is ?67 million and provides for the reinvestment of GVM in FUM with an equity investment equal to 9% of the share capital. In particular, Faggioni holds the rights to exploit 50% of two of the most important quarries in the Carrara district located in Miseglia, an area of great value specialized in the extraction of the most sought-after qualities of marble, including Statuario and Calacatta. The board of directors of Franchi Umberto Marmi has approved the completion of the preliminary contract for the purchase of 50% of the shares.

Franchi Umberto Marmi S.p.A. (BIT:FUM) acquired 50% stake in Ingegner Giulio Faggioni Carrara Srl from Giulio Vanelli Marmi - La Civiltà del Marmo Srl on January 22, 2024.