(ANSA) - ROME, APRIL 22 - "LVMH increases the stake already held in Tod's by up to 10%"; "With this operation, the twenty-year friendship between the Arnault family and the DellaValle family is consolidated", announces a note.
Diego Della Valle & C, a company controlled by Diego DellaValle, has signed a contract with Delphine, a company wholly owned by LVMH, for the sale of 2,250,000 shares of Tod's, equal to 6.80% of the share capital. LVMH already owns 3.2% of Tod's capital. Following the completion of the transaction, which will follow next April 28, Diego Della Valle will hold, directly and indirectly, a stake equal to 63.64% of the share capital of Tod's and LVMH will hold a stake equal to 10.00% ".
"The friendship with Diego Della Valle and his family dates back over 20 years. It is a strong bond, cemented by common human and professional values. We are very happy to further strengthen this partnership", comments Bernard Arnault.
And Diego Della Valle says: "" I am very happy, with this operation, to consolidate a friendship that binds me and my family to Bernard and his family for over 20 years. The sharing of the values of luxury, quality and desirability of products could be an excellent reason to think about possible opportunities to be seized together in the future ". (ANSA).