Italian luxury goods group Tod's (TOD.IT) is in the process of negotiating an exit from the Milan Stock Exchange with LVMH-backed private equity firm L Catterton ending more than two decades as a public company.
L Catterton will pay €43 per share for its stake with a total value of €512 million, representing an 18% premium over the closing value of Tod's shares on Friday. The deal values Tod's at around €1.4bn excluding debt.
The company's shares are currently gaining nearly 18%.
Source: xStation
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