Valentino 10 pct stake trade result of Sept shareholder reorganisation - sources |
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Published
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Wed, 21 Mar 2007 18:18
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MILAN (AFX) - The 10 pct share trade in Valentino Fashion Group SpA reported on the bourse's block market this morning is part of last September's controlling shareholder reorganisation, market sources said.The 26 eur per share price -- well below today's price of around 31 -- corresponds to the price at which the shareholder reorganisation, aimed to close end-March, was conducted, they said.Under last September's plan, International Capital Growth (Luxembourg) Sarl is buying up to 29.93 pct in Valentino from members of the Dona dalle Rose and Marzotto families, plus from two funds.ICG will become mostly owned by the same family members, plus by the two funds, Leonardo Capital Fund Ltd with a 5 pct ICG stake and Leo Ventures Fund Ltd with 14.80, ICG said last September.Under the deal, ICG was due to acquire 14.50 pct in Valentino during September at 26 eur, with the right to increase up to 29.93 pct at a similar price by end-March.But according to stock market regulator Consob, ICG today holds 10.2 pct of Valentino, while market sources said the trade reported this morning has still to be reported to Consob.The sources could not say what stake ICG intended to reach by end-March.Valentino announces annual results tomorrow.nigel.tutt@thomson.comnt/jfrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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