LVMH Upgrades Its Stake in Tod's for Around EUR75 Million
By Joshua Kirby
LVMH Moet Hennessy Louis Vuitton SE has increased its stake in
Tod's SpA to 10%, the Italian shoe maker said late Thursday.
The French luxury-goods group's subsidiary Delphine SAS agreed
with Tod's Chairman Diego Della Valle to buy 2.25 million shares in
the company at a price of 33.10 euros ($39.78) a share, Tod's said.
The shares represent 6.8% of Tod's share capital and add to LVMH's
existing 3.2% stake.
The transaction will take place on April 28. Following the sale,
LVMH will own 10% of Tod's, while Mr. Della Valle's direct and
indirect stake will amount to 63.64%, Tod's said.
In a release, Mr. Della Valle and LVMH founder and controlling
stakeholder Bernard Arnault both noted the friendship between their
"This may represent an excellent reason to consider further
opportunities to be taken in the future ahead," Mr. Della Valle
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(END) Dow Jones Newswires
April 23, 2021 01:34 ET (05:34 GMT)
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