MILANO- Bernard Arnault friend of Diego Della Valle and partner of the entrepreneur from the Marches since he landed on the Tod’s Stock Exchange in 2000, which occurred at 40 euros per share, he decided to focus on a company he knows well,
Through the financial company Delphine (the name of Arnault’s daughter who started taking her first steps in fashion starting from Sant’Elpidio a Mare) which is owned by Lvmh, Arnault will take over 6.8% of the company from the Della Valle family controls Tod’s Hogan, Fay and Roger Vivier brands, and will rise from 3.2% it owns to 10% of the capital.
The Della Valle from 71% of the listed group will therefore dilute to approximately 63.64%, while maintaining firm control over the company. The price paid for the share package is equal to the weighted average of the last 15 trading days (33.1 euros), those in which the stock, forgotten for months, began to ignite on the news of an imminent entry of the influencer Chiara Ferragni on the board of Tod’s. Finally, the shareholders’ meeting for the approval of the company’s 2020 financial statements, closed for the first time in red, authorized a buy back up to the maximum permitted by law, i.e. 20% of the capital, a proxy that if fully exercised would have the effect of reducing the liquidity of the stock to zero.
“The friendship with Diego Della Valle and his family dates back over 20 years – said Mr Arnault -. It is a strong bond, cemented by common human and professional values. We are very happy to strengthen this partnership even more” .
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