Tod’s to delist from Milan stock exchange

MILAN: Italy’s luxury shoemaker Tod’s will delist from the Milan stock exchange and go private under a deal with private equity fund L Catterton, backed by LVMH and owner Bernard Arnault.

Under the terms of the deal agreed with the Della Valle family, Tod’s majority shareholder, L Catterton will launch a tender offer to acquire 36 percent of the company’s share capital at 43 euros per share, for a total of 512.2 million euros. That represents a premium of 17.6 percent over Friday’s closing price.