YNAP/Richemont: offer launch expected in mid/end February
Richemont [VTX:CFR] is expected to launch its EUR 38 per share tender offer on Italian online retailer Yoox Net-a-Porter [BIT:YNAP] between the middle and the end of February, according to a source close to the situation.
The offer is then poised to last between three and five weeks, as required by Italian law, the source said.
The French company should file its offer document with Consob, Italy’s markets watchdog, shortly, the source added. Under Italian law, Richemont would have 20 calendar days from the deal announcement to make the filing.
Federico Marchetti, YNAP CEO, is expected to retain his post following the completion of the transaction, according to the source.
A YNAP spokesperson declined to comment. Richemont did not immediately respond to a request for comment.