Diego Della Valle and Andrea Della Valle together with the private equity fund

L Catterton

launch a new totalitarian takeover bid for the

delisting of Tod's from the Piazza Affari

. The offer at 43 euros - it is announced - provides that the majority shareholders will maintain control of the group.

The announcement of the operation, made by the parties, is accompanied by

declarations of satisfaction

from the CEO of Tod's, Diego Della Valle, and the global co-ceo and cofounder of L Catterton, Michael Chu.

The voluntary takeover bid, we read in the document, "is promoted by a company controlled by

LC10 international AIV, LP

, a fund managed (managed or advised) by affiliates of

L Catterton management limited

, in agreement with, among others, Diego Della Valle and Andrea Della Valle (and related subsidiaries) aimed at the delisting of Tod's shares”.

"The offeror - it is explained - will promote a voluntary public takeover offer pursuant to articles 102 et seq. of the TUF (the "Offer") for a consideration equal to €43.00 per share aimed at acquiring a maximum no. 11,913,128 ordinary shares of Tod's (the "Shares Subject of the Offer") representing 36% of the Issuer's share capital (excluding any treasury shares held by the Issuer) and to obtain the delisting of Tod's ordinary shares and from trading on Euronext Milan ("EXM"), a regulated market organized and managed by Borsa Italiana spa ("Delisting")".

In the event of a successful takeover bid - it is further explained -

the majority shareholders will be left with 54%

of the share capital.

L Catterton will become the indirect owner of 36%

and Delphine, a minority shareholder, will receive 10%. Furthermore, the offer implies a premium of 17.59% on Friday's stock market price.

Diego Della Valle, president and CEO of Tod's, says he is "very satisfied" with the announced operation of a total takeover bid, explaining that "

it will bring further benefits to the future development of the Tod's Group

, a development made up of continuous investments and challenging objectives ". 

"At this moment - he adds - leaving the stock exchange, with which we have always had excellent relationships,

we believe is the most strategically suitable choice

. Sharing this path with L Catterton, world leading private equity in the consumer goods sector, will give us the opportunity to develop further."