Tod’s founding family abandons delisting plans

Italy
Published:  13 December, 2022
Credit: Tod's

Tod’s founding family Della Valle has abandoned plans to delist the company after failing to garner support for a buyout.

The family announced earlier this year that it would take Tod’s private in order to position the brands at the top end of the market.

However, the Della Valle’s plan to purchase a 25.5% stake in the company from minority shareholders and reach a 90% stake failed.

Now, the family says that it has abandoned plans to delist the company after the initial buyout failed, saying it would not proceed with an operation that could be considered hostile or at least "not market friendly".

In a statement, founder and Chairman Diego Della Valle said: “We noted that some of our shareholders believed the value of the Tod's group to be significantly higher than our valuation and preferred to remain in possession of their shares.”

Source: Fashion Network