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Haworth agrees to buy 58.6 pct of Italy's Poltrona Frau

Haworth HQ in Holland
Haworth HQ in Holland

ROME (Reuters) - U.S. office furniture group Haworth is set to buy 58.6 percent of Italy's Poltrona Frau at a price of 2.96 euros per share and will launch a public tender offer on the remaining shares at the same price.

Holland, Michigan-based Haworth, fully owned by the Haworth family, has agreed to buy 51.3 percent of the Italian group famous for its iconic armchairs from Charme Investments and another 7.3 percent from Moschini, the two Poltrona Frau shareholders and the U.S. company said on Wednesday in a joint statement. (Reporting by Valentina Za, editing by Elizabeth Piper)