Tod's shares spike
Regulatory documents indicate that a holding linked to Chairman Diego Della Valle have committed to buy up to 5% of the luxury group's shares. As a result Tod's shares value immediately increased
According to the information available in a regulatory filing recently submitted, one of the holdings of the Della Valle family had signed a contract with Credit Agricole Corporate and Investment bank, under which it agreed to buy up to 1.7 million Tod's shares. As a result, Tod’s shares were up immediately.
In October, Della Valle denied speculation in the Italian newspapers over a possible sale of the group, saying "if we were to do a deal, we would buy, not sell".
The Della Valle's family currently owns roughly 60% of the Italian company specialised in shoes and leather goods.
Image credits: Tod's
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