Tod's Founding Family Makes Offer to Take Company Private
03 Août 2022 - 9:00AM
Dow Jones News
By Cecilia Butini
Italy's Della Valle family, the top shareholder in luxury
shoe-maker Tod's SpA, has launched a takeover offer to reach 90%
ownership of the company's share capital and eventually delist it,
the family said in a release distributed by the company.
The family has set an offer price of 40 euros ($40.67) a share
with the plan to buy 25.55% of Tod's share capital and reach 90%
ownership.
"The Della Valle family has decided to make a big investment in
the Tod's Group in order to accelerate its development," it said.
The goal is to give strong visibility and operative autonomy to the
single brands within the group, which would me more difficult to
obtain if Tod's remained listed, the family said.
LVMH Moet Hennessy Louis Vuitton SE will continue to hold a 10%
stake in Tod's through its French subsidiary Delphine SAS,
according to the Della Valle family.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
August 03, 2022 02:45 ET (06:45 GMT)
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