The Swiss giant of luxury Richemont, which launched a tender offer on 100% of the shares ordinary of Yoox Net à Porter, yesterday exceeded 95% stake in the company.
According to the numbers communicated by Banca Imi, Richemont announced that since the beginning of the Sell-Out period, 13.999 Ynap shares have been tendered by 34 shareholders, which added to the 64.940.119 Ynap shares already held at the end of the period membership and 23.187.386 already in the Richemont UK portfolio, bringing the total to 88.141.504, equal to 95,006% of the ordinary share capital. As a result, the conditions have arisen which allow theResidual takeover bid (article 111 of the Tuff).
On 8 June Richemont will publish a press release on the provisional results of the Sell-Out procedure and also on the procedures and terms under which the bidder will exercise the right to purchase.
Based on these indications, the Swiss luxury giant recalls that Borsa Italiana will dispose the delisting of Yoox Net à Porter Group from Piazza Affari starting from 20 June 2018. The shares will also be suspended from listing and trading on 18 and 19 June.
