(Alliance News) - Italian Wine Brands Spa announced Thursday that it has finalized the acquisition of the entire share capital of Barbanera Srl and Fossalto Srl.

In addition, following Simone Strocchi's resignation from the board, IWB's board appointed Sofia Barbanera as the company's new nonexecutive director.

IWB's stock on Thursday closed in the green by 0.6 percent at EUR27.30 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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