OKLAHOMA CITY- Cala Corp. has announced that Cala of Italy, its wholly owned subsidiary, has acquired 51% interest in Pedana Costrufer of Italy, a prestigious design and construction company specializing in boutique hotel and spa projects.
The acquisition makes provisions for the management of Pedana Costrufer of Italy to become employee affiliates of Cala of Italy. The acquisition will generate $2.5 million in revenues starting in the fourth quarter of 2000. Future contracts booked by Pedana Costrufer are estimated at $10 million.
The auditing firm of Fratelli Malatesta will handle this transaction. Fratelli Malatesta is a global merger and acquisition firm with offices in Rome and Brussels. (9/26/00)
