The Board of Directors of Lascelles,deMercado & Co. Ltd (LdM) wishes to inform its shareholders that its majority shareholder, the CL Financial Group, has notified it that it has agreed to sell its stake in LdM to Gruppo Campari, a major Italian-based wines and spirits group. Gruppo Campari has issued a press release regarding its intentions. The press release contains a statement that Gruppo Campari intends to launch a public offer to the shareholders of LdM.
The Board views this as notification of the intention to make an offer from a serious source and will await further developments.
