Gitanjali buys Italian firm

Gitanjali Gems on Tuesday informed the stock exchanges that it had acquired 90 per cent stake in Glantti Italia, a company based in Milan. It took the stake from its Dubai-based, wholly owned subsidiary, Gitanjali Ventures DMCC. Glantti Italia now becomes a direct subsidiary. “The acquisition is aimed at growth of the branded jewellery business overseas and gain the designing and branding concepts’ expertise from Italy,” the company said in a release.