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Tod's owners consider taking £1billion company private

Jeremy Lim
03 August 2022

The founding family of Italian luxury shoemaker Tod's are weighing up plans to delist the Group from the Italian Stock Exchange and take it private again.

The Della Valle brothers are reportedly planning to buy out out other investors for up to £282 million (€338 million). The move is expected to boost its business by managing its diverse brands separately.

In a statement, Diego and Andrea Della Valle said their holding company would offer to buy Tod's shares at €40 each, a 20.4% premium to Tuesday's closing price, valuing the company at £1 billion (€1.32 billion).

The offer is equal to the price the company set at the time of its initial public offering back in 2000.

The brothers, who directly and indirectly hold a 64.45% stake in Tod's, will launch the bid for a further 25.55% of the company's shares through their joint holding company DeVa Finance S.r.l.

Delphine S.A.S. under the LVMH Moët Hennessy Louis Vuitton Group has reportedly struck an agreement with the brothers to not tender its stake and will remain a shareholder in the delisted group with its current 10% stake.

Della Valles said in the statement: "The objective is to enhance the value of the group's individual brands, giving them strong individual visibility and operational autonomy. Through this strategy, we intend to strengthen the positioning of the brands at the top of the quality and luxury market, with a high level of desirability."

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