The share price of Italian luxury
leather goods company Tod's soared on Monday after Chairman
Diego Della Valle and his brother Andrea announced at the
weekend that they are launching an operation to delist the group
with the private equity fund L Catterton.
The offer of 43 euros per share is the second attempt to take
the company private in under two years and values it at around
1.4 billion euros.
In early trading, Tod's stock moved up towards that threshold,
rising 17.4% to 42.7 euros.
Diego Della Valle said he was "very satisfied" with the
announced transaction, adding that "it will bring further
benefits to the future development of the Tod's Group.
"At this time we we believe that leaving the (Milan) Stock
Exchange, which we have always had excellent relations with, is
the most appropriate strategic decision," he said.
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