KERING, MAYHOOLA AMEND AGREEMENT, POSTPONE VALENTINO PUT OPTIONS
https://s.yimg.com/ny/api/res/1.2/9NpixbIvHJUsoh2ALMVtCA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD0xODAw/https://media.zenfs.com/en/wwd_409/b75871260b4a167b06016539349542dc
✍️ Kering's CEO Luca De Meo announces that the luxury group's ownership structure of Valentino will not change before 2028, deferring the option to buy the remaining 70% stake in the Italian fashion brand.
👉 Kering's CEO Luca De Meo announces that the luxury group's ownership structure of Valentino will not change before 2028 👉 The option for Kering to buy the remaining 70% stake in Valentino is deferred until 2029 👉 Kering will need up to 3.4 billion euros in cash to pay for the remaining 70% stake 👉 Kering's net debt rose from 200 million euros in 2021 to about 10.5 billion euros at the end of 2024 👉 Valentino's 2024 revenues decreased 3% to 1.31 billion euros
-- #LucaDeMeo #LucaSolca #François-HenriPinault #RiccardoBellini #JacopoVenturini #AlessandroMichele #PierpaoloPiccioli #SeanCombs #Milan #Florence #Leccio #Sanremo #Paris #Qatar #business
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