Published: Feb. 12, 2024 at 1:40 a.m. ET
By David Sachs
Tod’s said it has a deal in place to delist from the Milan stock exchange and hand 36% of the company to private equity firm L Catterton, which is backed by luxury goods giant LVMH.
The Italian luxury apparel company said Sunday that L Catterton would pay EUR43.00 per share for the stake for 512.3 million euros ($552.4 million)….
By David Sachs
Tod’s said it has a deal in place to delist from the Milan stock exchange and hand 36% of the company to private equity firm L Catterton, which is backed by luxury goods giant LVMH.
The Italian luxury apparel company said Sunday that L Catterton would pay EUR43.00 per share for the stake for 512.3 million euros ($552.4 million). The firm joined LVMH and Groupe Arnault, the holding company owned by LVMH founder Bernard Arnault, in 2016, according to its website.
The Della Valle family would stay in control of the newly private company with 54% of Tod’s shares, should the sale go through. The family said in 2022 that it aimed to take the company private.
In a separate agreement, LVMH subsidiary Delphine would hold 10% of the company after delisting.
Write to David Sachs at david.sachs@wsj.com
