Launch of the Mandatory Tender Offer on Moleskine Shares

On 9 November 2016, the Italian regulator (CONSOB) approved the prospectus relating to the mandatory tender offer launched on Moleskine shares.

The tender offer period will begin on 14 November 2016 and end on 2 December 2016, subject to extensions.  The offer will be launched by DM Invest, a subsidiary of the D’Ieteren group, at a price of EUR 2.40 per share.  The offer covers a total of 125,610,750 existing Moleskine shares (including 3,872,410 treasury shares held by Moleskine), as well as up to 5,499,137 new Moleskine shares that may be issued in case stock options are exercised.  

The offer will be financed through available cash at the D’Ieteren group, through a draw-down on one of the existing credit facilities at the level of D’Ieteren SA, and through a new credit facility at the level of DM Invest (up to EUR 165 million). 

The prospectus, which contains a detailed description of the offer, is expected to be published on 11 November 2016 on Moleskine’s website (www.moleskine.com).

 

Group profile

In existence since 1805, and across family generations, D’Ieteren seeks growth and value creation by pursuing a strategy on the long term for its businesses and actively encouraging and supporting them to develop their position in their industry or in their geographies. The group has currently three activities articulated around strong brands:

  • D'Ieteren Auto distributes Volkswagen, Audi, SEAT, Škoda, Bentley, Lamborghini, Bugatti, Porsche and Yamaha vehicles in Belgium. It is the country's number one car distributor, with a market share of more than 22% and 1.2 million vehicles on the road at the end of 2015. Sales and operating result reached respectively EUR 2.9 billion and EUR 60.4 million in 2015.
  • Belron (94.85% owned) is the worldwide leader in vehicle glass repair and replacement. Some 2,400 branches and 10,000 mobile vans, trading under more than 10 major brands including Carglass®, Safelite® AutoGlass and Autoglass®, serve customers in 33 countries. Sales and operating result reached respectively EUR 3.2 billion and EUR 174.4 million in 2015.
  • Moleskine (41% owned) is a premium and aspirational lifestyle brand which develops and sells iconic branded notebooks and writing, travel and reading accessories through a multichannel distribution strategy across 114 countries. Sales and operating result reached respectively EUR 128 million and EUR 35 million in 2015.

 

Financial Calendar

Last five press releases

(with the exception of press releases linked to
the repurchase or sale of own shares)

Next events

 

 

 

 

6 October 2016

Closing of the agreement to acquire a 41% stake in Moleskine

6 March 2017

2016 Full-Year Results

22 September 2016

Agreement to acquire a 41% stake in Moleskine

1 June 2017

General Meeting & Trading Update

29 August 2016

2016 Half-Year Results

 

 

13 July 2016

Publication of a transparency notification

 

 

26 May 2016

Trading Update for the period ending 31 March 2016

 

 

 

Contacts

Axel Miller, Chief Executive Officer

Arnaud Laviolette, Chief Financial Officer

Pascale Weber, Financial Communication - Tel: + 32 (0)2 536.54.39

E-mail: financial.communication@dieteren.be – Website: www.dieteren.com