The share price of Italian luxury leather goods company Tod's soared on Monday after Chairman Diego Della Valle and his brother Andrea announced at the weekend that they are launching an operation to delist the group with the private equity fund L Catterton.
The offer of 43 euros per share is the second attempt to take the company private in under two years and values it at around 1.4 billion euros.
In early trading, Tod's stock moved up towards that threshold, rising 17.4% to 42.7 euros.
Diego Della Valle said he was "very satisfied" with the announced transaction, adding that "it will bring further benefits to the future development of the Tod's Group.
"At this time we believe that leaving the (Milan) StockExchange, which we have always had excellent relations with, is the most appropriate strategic decision,” he said.
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