Della Valle Owns 2.06% Stake In Safilo, Shares Boosted

Diego Della Valle, founder of luxury goods maker Tod's SpA (TOD.MI), has bought a 2.06% percent stake in eyewear maker Safilo Group SpA (SFL.MI), according to a filing posted Tuesday on stock-market regulator Consob's Web site.

The news, which confirms previous reports in the Italian press, boosted Safilo shares, which were suspended limit up in Milan.

Safilo stock was also given a lift by a report of possible interest in the firm from Dutch investment fund Hal Investments. The fund is about to submit an offer for a stake in the Italian eyewear maker, daily La Repubblica reported Tuesday, citing people close to the situation.

Hal Investments, which holds a stake of just over 2% in Safilo, wasn't immediately available for comment.

Analysts said that a new, solid industrial partner would be good news for Safilo, which recently saw private-equity firms Bain Capital and Pai Partners walk out of talks for a 30% stake in the company.

Safilo said last month it will be careful in evaluating potential interest and that it is now only open to serious partners in the industry.

The company is owned by the Tabacchi family with a 39.9% stake. It recently reached an agreement with creditor banks to delay debt payment due June 30 to Dec. 31 on its existing senior loan.

Its net debt position is now EUR592.1 million, from EUR617.7 million reported in the first quarter.

-Giada Zampano, Dow Jones Newswires; +39 0669766920: giada.zampano@dowjones.com

Safilo (BIT:SFL)
Historical Stock Chart
From Jun 2024 to Jul 2024