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Michal Strnad offers 30 billion euros for Delfin holding
Czech arms industry billionaire Michal Strnad has submitted an unsolicited 30 billion euro cash offer to acquire Delfin Sarl, the Luxembourg-based holding company owned by the heirs of the late Leonardo Del Vecchio. The offer, detailed in a letter dated October 20 to Delfin CEO Romolo Bardin, values the holding at a 30 percent discount compared to its net asset value.
Delfin holds significant strategic stakes in major European companies, including a 32.4 percent interest in the eyewear giant EssilorLuxottica, as well as holdings in Assicurazioni Generali, UniCredit, and Banca Monte dei Paschi di Siena. While Strnad is seeking to acquire the entire company, he indicated a willingness to accept a controlling stake of at least 62.5 percent if some shareholders choose to retain their positions.
The takeover attempt comes amid ongoing legal and management disputes among the eight Del Vecchio heirs, who each hold a 12.5 percent stake. Leonardo Maria Del Vecchio has expressed opposition to the bid, stating that his father’s life work should remain an Italian asset. Any sale of the holding requires the unanimous approval of all eight co-owners.
Entities
CSG · Czechoslovak Group · Delfin Sarl · EssilorLuxottica · Leonardo Del Vecchio · Leonardo Maria Del Vecchio · Michal Strnad · Romolo Bardin
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 4 SOURCES] Leonardo Maria Del Vecchio confirmed awareness of the offer. www.ceskenoviny.cz · www.forbes.com.tr · fakti.bg · www.ilfattoquotidiano.it
- [● 9 SOURCES] Delfin holds a controlling interest and nearly one-third of the shares in EssilorLuxottica. www.ceskenoviny.cz · www.echo24.cz · fakti.bg · ameve.eu · www.acuite.fr · +4 more
- [● 9 SOURCES] The offer was addressed to Delfin CEO Romolo Bardin on October 20. www.ceskenoviny.cz · www.editorialedomani.it · www.forbes.com.tr · fakti.bg · ameve.eu · +3 more
- [● 14 SOURCES] The offer represents a 30 percent discount compared to the net asset value of the company. www.echo24.cz · www.ceskenoviny.cz · www.editorialedomani.it · www.forbes.com.tr · fakti.bg · +8 more
- [● 13 SOURCES] Delfin holds stakes in Assicurazioni Generali, UniCredit, and Banca Monte dei Paschi di Siena. www.echo24.cz · www.ceskenoviny.cz · www.editorialedomani.it · www.forbes.com.tr · fakti.bg · +7 more
- [● 9 SOURCES] All eight co-owners of Delfin must unanimously approve the sale of the holding. www.echo24.cz · www.ceskenoviny.cz · www.forbes.com.tr · www.editorialedomani.it · fakti.bg · +4 more
- [● 8 SOURCES] The offer is valid for a period of 30 days. www.ceskenoviny.cz · www.editorialedomani.it · www.forbes.com.tr · fakti.bg · ameve.eu · +2 more
- [● 15 SOURCES] Michal Strnad offered 30 billion euros for the holding company Delfin Sarl. www.echo24.cz · www.ceskenoviny.cz · www.editorialedomani.it · www.forbes.com.tr · fakti.bg · +9 more