BENETTON PLAN: The Benetton family’s holding, Edizione Srl, said Thursday it will launch a tender offer to delist Italian clothing and textile manufacturer Benetton Group in the months of March and April. Edizione controls 67.08 percent of Benetton, and will offer 4.60 euros, or $6.03 at current exchange, a share for the remaining 32.92 percent of the company for a total sum of over 276.6 million euros, or $363 million. Benetton, which went public in 1986, is a small part of Edizione’s overall holdings that span from highway catering and communications to real estate and agriculture.
According to sources, Benetton’s executive deputy chairman, Alessandro Benetton, son of co-founder Luciano Benetton, is expected to effectively take the helm of the Italian group in May. Benetton shares closed up 0.30 percent to 4.65 euros, or $6.11.
This story first appeared in the February 17, 2012 issue of WWD. Subscribe Today.