Bormioli Sale - Deadline Moved Back

The deadline for bids for Italian glassware manufacturer Bormioli has been moved back from 10 November 2006 to the end of the month. As of 16 November 2006, merchant bank EfiBanca, which is managing the sale, had received several bids, none of them binding. Among the bidders for Bormioli is Luciano Vinella, shareholder in the Vetrerie Meridionali of Bari, southern Italy. Mr. Vinella is said to have offered EUR 340 million, approximately EUR 40 million less than the reserve price. In consortium with Mr. Vinella are investors Unipol, Bnl and the Quadrivio fund. Among the other interested parties for the acquisition of Bormioli are Vincenzo Manes and Seneca sgr.