THEO Fennell, the premium jeweller favoured by celebrities such as Lady Gaga and Victoria Beckham, has finally agreed to be taken over by finance house EME Capital in a £2.9m deal.
The firms have been locked in talks since last September, with the extraordinary length of the discussions requiring 10 extensions from The Takeover Panel to enable them to continue.
Theo Fennell, which is currently listed on Aim, will go private under the deal, with shareholders being offered 12.5p per share, double Wednesday’s closing price. Shareholders also have the option of a share alternative, equivalent to 30 per cent of the firm’s share capital.
Founder Fennell and finance director Alasdair Hadden-Paton will remain as directors under the new management. “I am personally delighted that I will continue to play a central role,” said Fennell.