(Alliance News) - Reway Group Spa announced Friday that its subsidiary Se.Gi. Spa has received communication "without justification" regarding its suspension from RFI's supplier portal.

"Reway Group takes note of this precautionary suspension," the note reads, "and is ready to promptly provide, also through its subsidiary, all the necessary documentation to demonstrate the total absence of elements that justify such a measure, in view of the total discontinuity at the level of administrative, control, supervisory and general organization bodies brought in at the time of and following the acquisition of Se.Gi. finalized last Nov. 21.

Reway Group also clarified that the contract for the acquisition of Se.Gi "contains guarantee and indemnification clauses suitable to cover any damages that may arise from Se.Gi in connection with what has been learned in the media."

Reway Group's stock closed Friday up 1.4 percent to EUR4.96 per share.

By Chiara Bruschi, Alliance News reporter

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