LVMH increases up to 10% the shareholding held in Tod’s.
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Through this transaction, the twenty-year friendship between the Arnault and Della Valle families is reinforced.
Diego Della Valle & C S.r.l. (a company controlled by Mr Diego Della Valle) entered into a sale and purchase agreement with Delphine S.A.S. (a fully-owned subsidiary of LVMH) for the sale of no. 2,250,000 shares of Tod’s S.p.A., representing 6.8% of Tod’s share capital. LVMH already owns 3.2%. The price per share is US$40.03, equal to the volume weighted average price of Tod’s shares of the fifteen trading days preceding the signing. The transaction will be executed on 28th April 2021. Upon completion, Mr. Diego Della Valle will own, directly and indirectly, 63.64% of Tod’s outstanding shares and LVMH will own 10.00%.
Bernard Arnault said: “The friendship with Diego Della Valle and his family goes back over 20 years, a relationship cemented by common human and professional values. We are very happy to reinforce further this partnership.”
Diego Della Valle said: “I am delighted by this transaction which consolidates the friendship between myself, my family, Bernard and his family, that lasts longer than 20 years now. We share the values of luxury, quality and products appeal. This may represent an excellent reason to consider further opportunities to be taken in the future ahead.”