La Doria - Takeover likely

La Doria has confirmed the shareholders subject to the shareholders’ agreement, who hold 63% of the issued share capital, are in negotiations with Investindustrial Holdings, a private equity investor. The proposed agreement would include the transfer of the entire 63% holding to an Investindustrial Group company at a price of €16.50 per share and the subsequent launch of a public tender offer for the rest of La Doria’s outstanding shares, also at €16.50 per share. A number of the selling shareholders, including CEO Antonio Ferraioli, will continue to be involved in managing La Doria once the transaction has completed. Investindustrial has been granted a period of exclusivity until 20 October to complete its due diligence.