The company may be known as Gaensel Energy Group (OTCMKTS:GEGR) but it is actually a holding company and has interests across a wide range of sectors.
On Tuesday, the company was actually in the news after it provided a corporate update and that sent the Gaensel shares on a major rally. It ended up with gains of as much as 22.22% for the day and emerged as one of the significant gainers. In this situation, it may be a good idea to look into the actual update and then make your minds up about the stock.
The company announced yesterday that it had been successful in completing a 100% acquisition of the Italy-based holding company Montenapoleone 1838 SRL. Montenapoleone 1838 is based out of the city of Milan in Italy and has interests in a range of industries like retail, coffee roasting, and fashion.
Earlier the company had been known as Montenapoleone Group but it was renamed Montenapoleone 1838 not too long ago. It is an entity long-standing and has actually founded back in 1838. In the past century and a half, the family-owned business had been operating in an exclusive way. In recent past decades, it has been particularly involved in the select Italian coffee business.
Over the course of the past four decades, Montenapoleone 1838 has worked extensively in the coffee industry and that has, in turn, given the company vast technical knowledge that allows it to be one of the foremost operators. In addition to that, the technical knowledge has also helped the company’s skills by way which it acquired a level of excellence that distinguishes it from other entities in the industry.
The acquisition from Gaensel could well prove to be an interesting one in the long run and the market seems to think so as well.
