Betty Blue S.p.A. cancelled the acquisition of Spactiv S.p.A. in a reverse merger transaction.

Betty Blue S.p.A. entered into an agreement to acquire Spactiv S.p.A. (BIT:SPTV) in a reverse merger transaction on September 12, 2019. The deal that values the Italian clothing brand at €195 million. Spactiv would invest €77.5 million to buy a stake in Betty Blue. The resulting entity will be called Elisabetta Franchi and trade on the alternative investment segment of the Milan bourse. Betty Blue S.p.A. cancelled the acquisition of Spactiv S.p.A. (BIT:SPTV) in a reverse merger transaction on September 12, 2020.