Swiss luxury goods firm Lalique wants to delist from Switzerland’s SIX stock exchange, said the group on Friday May 31. Majority shareholder Silvio Denz is therefore submitting a tending offer to public shareholders. Silvio Denz is offering them CHF 40 in cash per Lalique Group share, corresponding to a premium of 32.45% based on the share’s closing price on May 30, Lalique said.
The company justifies the operation by a “very limited” float, currently estimated to stand at just over 6%. The group also wants to get rid of the coast associated with the listing and to “focus fully on its business activities and continue to successfully pursue its proven diversification strategy.”
The other key shareholders - which include retail chain Müller Handels AG Schweiz, Indian conglomerate Dharampal Satyapal and Swiss investor Hansjörg Wyss - will remain in the capital after the intended delisting, details the group in a press release, an agreement having been concluded with Mr. Denz, who holds 51.1% of the shares.
The Board of Directors of Lalique Group unanimously recommends that the shareholders accept the offer, adds the group. Shareholders will be asked to vote on the delisting at the Annual General Meeting scheduled for June 28.
Lalique Group is a niche player in the creation, development, marketing and global distribution of luxury goods. Its business areas comprise perfumes – including brands such as Lalique Fragrances, Bentley Fragrances, Brioni Fragrances, Jaguar Fragrances, Parfums Grès, Parfums Samouraï ou Superdry Fragrances – crystal, jewellery, high-end furniture and lifestyle accessories, along with art, gastronomy and hospitality as well as fine spirits and wine. The group also owns the Ultrasun sun care brand.
In 2023, the Lalique Group reported revenues of 179.2 million Swiss francs and an operating profit after taxes and depreciation of 2.4 million Swiss francs.
In April, French skincare giant L’Occitane group, announced its delisting from the Hong Kong stock exchange, explaining it wanted to free from the "financial market pressures" and no longer have to devote "commercial and administrative resources to the maintenance of the short-term value of its share price”.
