Tod’s plans to withdraw from the Milan Stock Exchange.
As the Italian luxury clothing company announced at the weekend, private equity investor L Catterton, who is supported by the luxury goods group LVMH, wants to take over 36 percent of Tod’s. A corresponding agreement has been reached.
According to Tod’s, L Catterton will pay 43.00 euros per share, or 512.3 million euros, for the share. L Catterton has been part of LVMH and Groupe Arnault, the holding company of LVMH founder Bernard Arnault, since 2016, the website says.
If the sale goes through, the Della Valle family would retain control of the new, unlisted company with 54 percent of Tod’s shares. The family announced in 2022 that they were seeking to privatize the company.
In a separate agreement, LVMH subsidiary Delphine would hold 10 percent of Tod’s after the delisting.
Tod’s shares temporarily gained 17.16 percent to 42.60 euros on the Milan stock exchange. LVMH is currently up 0.56 percent in Paris trading to 812.00 euros.
MILAN (Dow Jones)
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