Tod's Todes officially delisted on June 7, with LVMH Group holding shares

The Italian luxury goods group Tod's announced its official delisting on June 7, and the stock trading was terminated two days earlier. The Italian Corporate and Trading Commission (Consob) has approved the transaction request earlier.

At the beginning of May, L Catterton, the world's largest consumer private investment fund under the French luxury giant LVMH Group, announced that its joint shareholding with Tod's founder family in Tod's Group had exceeded 90% of the total equity. Therefore, Tod's Group will automatically delist from Euronext Milan after the commitment period.

The voluntary tender offer was officially launched on March 25 and ended on May 8. According to the transaction terms disclosed by both parties previously, L Catterton acquired about 13 million shares of Tod's SpA through its Crown Bidco company at a price of 43 euros per share, totaling about 512 million euros, and the final shareholding ratio reached about 36%.

After the closing on May 15, Tod's announced its financial report for the first quarter of fiscal year 2024 as of March 31: the comprehensive revenue fell 6.7% year-on-year to 252.3 million euros (a year-on-year decline of 4.7% at a fixed exchange rate).

Diego Della Valle, Chairman and CEO of the Group, commented: "With the success of the acquisition offer, Tod's Group will delist from the stock exchange. We made this choice in order to give full play to the potential of our various brands and make all necessary investments within the most appropriate timetable we think. We have a huge growth opportunity, and we will strive to seize it and operate in a long-term perspective. ".

At present, Tod's Group owns accessories, shoes and clothing businesses of Tod's, Roger Vivier, Hogan and Fay brands.

Diego Della Valle added: "We also decided to share this strategic decision with the two global partners, L Catterton and LVMH Group. They have rich experience in our industry. We entered the stock exchange with them more than 20 years ago, and they will certainly become valuable partners. I would also like to take this opportunity to thank the Italian Stock Exchange and CONSOB (Italian National Corporation and the Committee of Stock Exchanges) for their cooperation over the years. "

At present, L Catterton holds about 36% of the shares of Tod's Group through its subsidiary Crown Bidco, and LVMH Group will also retain the current 10% of the shares.