Cinecitta Holding going private

12:19 PM PST 08/28/2008 by Eric J. Lyman, AP

Handover will take effect Monday

VENICE -- Cinecitta Holding, the parent company of Italy's storied Cinecitta Studios, is becoming more private.

With the creation of the Italian Entertainment Group -- backed by film producer Aurelio De Laurentiis, fashion magnate Diego Della Valle, banker Luigi Abete and the Haggiag family, prominent Roman financiers -- effective control of the company will pass into private hands Monday.

It is not clear what impact the change will have on the way Cinecitta Holding is run.
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