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  Before Takeover: Chinese Group Wants to Buy Austrian Stocking Manufacturer Wolford | News | Bit Updates
Home » bitcoin updates » Before Takeover: Chinese Group Wants to Buy Austrian Stocking Manufacturer Wolford | News

Before Takeover: Chinese Group Wants to Buy Austrian Stocking Manufacturer Wolford | News

Thursday, March 1st, 2018 | bitcoin updates

Fosun and the majority shareholders want to conclude a corresponding purchase agreement for € 12.80 per share, announced the publicly listed company Wolford on Thursday. Fosun plans to raise € 22 million in new equity. Fosun most recently took over the majority of the French luxury fashion house Lanvin. Fosun holds a stake of just under 30 percent in the listed German fashion company TOM TAILOR. Fosun will take over 50.87 percent of Wolford's shares – subject to the approval of the cartel authorities – from the main shareholder group, the Wilhelm und Palmer families. The purchase price for the 2,543,694 shares amounts to EUR 12.80 per share, according to the communication. To strengthen the financial structure, a capital increase of EUR 22 million is planned, while maintaining the subscription rights. This requires the approval of the Annual General Meeting, which is expected to take place in May 2018./agr/sp/APA/fbaBREGENZ (dpa-AFX)

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