Benetton launches tender offer for delisting title edition

class="contentheading" Benetton launches tender offer for delisting title edition

colspan="2" class="createdate"> Thursday, February 2, 2012 Edition Ltd, controlling shareholder of the Benetton group, today announced the launch of a takeover bid aimed at the voluntary delisting of the group of clothing at a price of 4.60 euros per share. This was announced by the group of Ponzano Veneto in a statement explaining that the consideration of the offer includes a premium of 15.6% compared to the official part of Tuesday (3.98 euros), when the Italian Stock Exchange has suspended the title.According

edition to the press believes that "the delisting of Benetton Group will provide management the flexibility required in the medium and long term to implement the actions necessary to meet the challenges arising from the changed competitive environment."

writes the news agency Reuters, in practice, Alessandro Benetton, which from May will take the reins of the group in Ponzano Veneto, "wants to have hands free for any extraordinary transactions, divestitures, spin-off of Benetton in anticipation of a possible accommodation between the branches of the family empire, a source of field notes. "

The cash offer represents a maximum disbursement, calculated at 32.92% stake in Benetton (but including the more than 5% of own shares) amounted to 276.6 million euros. Edition has a controlling stake in Benetton approximately 67.08%.

Photo: Alessandro Benetton