The newly merged company will be called Finarte – Semenzato Casa d’Aste S.p.A. and the aim will be to create one sole auction focus in Italy capable of competing with major foreign operators that already enjoy a widespread presence on the Italian market.
The merger will enable the company to cover all of Italy through the bringing together of Semenzato’s salerooms in Venice and Florence and Finarte’s rooms in Milan and Rome.
This year’s target for auction sales is €90m plus, which would represent a seven per cent increase on the combined total sales for the two companies for 2001.
The new chairman is expected to be Ruggiero Jannuzzelli, with Giorgio Corbelli as managing director.
Shareholders back the merger of leading Italian auction houses
THE merger of Italy’s two leading domestic auction houses, Semenzato and Finarte, has won the support of shareholders, who voted on September 4.
