Coin Spa completes capital increase and appoints new board

Coin spa, the company leading the most extensive chain of department stores in Italy, has subscribed to and paid the share capital increase at the conclusion of the reorganisation process. The shareholders' meeting also appointed the company's new board of directors. It is composed of Roberto Rondelli, Marica Carraro, Matteo Cosmi, Ignazio Pellecchia, Tito Raccanello, Federico Sarti and Ermanno Sgaravato.

Mia srl, the holding company of the Exelite group, subscribed to the capital increase for a total of 33.2 million euros; 10,750,000 euros for Mia srl. Invitalia, the National Agency for Development, through the Business Safeguard Fund promoted by the Ministry of Businesses and Made in Italy, subscribed for 10,000,000 euros. Sagitta Sgr spa, as management company of the "Utp Restructuring Corporate" Fund, as direct and indirect shareholder through Spv Project 2402 srl, subscribed for a total of 10,986,085 euros. Joral Investments srl subscribed for 1,000,000 euros. Hi-Dec Edizioni srl subscribed for 500,000 euros.

"This operation represents a fundamental step for the company's capital strengthening and the positive conclusion of the restructuring phase," a note read.

The shareholders' meeting then appointed the new board of directors. It is composed of Roberto Rondelli, Marica Carraro, Matteo Cosmi, Ignazio Pellecchia, Tito Raccanello, Federico Sarti and Ermanno Sgaravato.

The board of directors in turn confirmed Cosmi as chief executive officer of Coin spa. They emphasised the significant work carried out by the manager during the company's restructuring phase. Rondelli, director of Sagitta Sgr, will be the chairman. Since 2023, he has led the Europe Investments division (part of Arrow Global Group). This division deals with the relaunch of industrial groups in temporary financial difficulty. He was previously a partner at Pillarstone (KKR), where he was a member of the board of directors and the investment committee. He succeeds Andrea Gabola, who concludes his mandate at the end of the company's extraordinary administration period. Carraro has been appointed vice-president.

"Today represents a moment of fundamental importance in Coin's history, the result of the extraordinary work of a cohesive and determined team, which has been able to face a phase of great complexity with courage and lucidity. Now the season of relaunch opens, with confidence and concreteness, well aware that the path will be long and challenging," commented Cosmi, chief executive officer of Coin.

Matteo Cosmi Credits: Coin

"With the support of our new shareholders, we will fully concentrate on implementing the industrial plan, thus laying the foundations for solid, lasting growth capable of intercepting and enhancing the evolutions of a constantly evolving market. For over 100 years, Coin has been part of the life of Italian city centres: a shopping destination and a place of social gathering, a point of reference and identity for local communities," continues Cosmi.

Coin is present throughout Italy, in the most important historic centres and on the main shopping streets, with 30 directly owned stores. It also has 109 Coincasa stores in Italy and abroad.

Roberto Rondelli Credits: Coin

This article was translated to English using an AI tool.

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